Draghi passes key hurdle en route to ECB throne
Mario Draghi - Photo EC
(BRUSSELS) - A key European Parliament committee announced its backing Wednesday for appointing Italian central bank governor Mario Draghi's as the new head of the European Central Bank (ECB).
The vote by the parliament's economic and monetary affairs committee, which followed a US-style confirmation hearing on Tuesday in Brussels, saw 33 in favour, two against and four abstentions.
The full parliament will now be called on to ratify the decision on June 23 -- the same day European Union leaders open a summit at which they are to give their final endorsement.
Draghi if endorsed would succeed Frenchman Jean-Claude Trichet in the autumn -- taking the reins at a critical time for the 17-nation eurozone, with possible default for debt-laden Greece despite renewed bailout efforts.
Default is seen by analysts and policymakers alike, foremost among them the current ECB leadership of which Draghi is already a part, as impacting money markets and possibly threatening the stability of the entire euro currency area.