13 May 2011

EUROZONE: Merkel Relents...Supports Italy's Draghi For ECB; Finland Wins Changes To Support Portugal.

M.PRESS/  Poor version of  Thursday Re-post

     Germany's Chancellor Angela Merkel finally supported Italian central banker Mario Draghi...as the next president of the ECB...to replace after eight-years Jean-Claude Trichet, whose term ends in October.
    Germany is the last of the big 4 EU nations to endorse Draghi.
    On 26 April, French President Nicolas Sarkozy told PM Berlusconi that he would back an Italian.
AND: 
    A parliamentary committee allowed Finland's outgoing FM Jyrki Katainen (pictured) to support a Portugal bailout at 16 May meeting.
     Portugal needs 78bn euros $111bn in loans from the EU and IMF.
    Finland is the only country that requires its parliament to approve the bail-out package.
 http://www.bbc.co.uk/news/business-13394004