Goldman Sachs Wins: EuroZone Endorses Draghi to Become Next ECB President

The ministers from the 17 nations that use the euro endorsed former vice-chairman of Goldman Sachs Inteernational, Mario Draghi, 63, to take over as head of the European Central Bankin November, Luxembourg’s Jean- Claude Juncker, who leads the group, told reporters in Brussels late yesterday. ECB President Jean-Claude Trichet’s eight-year term ends on Oct. 31.

Juncker continued:

[Draghi]is a central banker who has proven throughout his career that he holds the principles of the euro dear. He is a man who brings together all the necessary qualities to be a worthy successor to Jean-Claude Trichet, who was an eminent president.

Following the vote by European Union finance ministers, the nomination will be forwarded to the European Parliament so that EU leaders can make a final decision in June, Juncker said.