21 October 2011

ITALY / FRANCE / EUROZONE : Slippery Silvio Snubs Sarkozy's Choice For New Bank Chief.

                                         TELEGRAPH/ N.SQUIRES

     Nothing like a petty political snit between world leaders...while the eurozone melts away.
     On Sunday...PM Silvio Berlusconi will have to face President Nicolas Sarkozy after inserting his velvet shiv...and snubbing Sarkozy's choice to head the Bank of Italy.
      Sarkozy had expected Lorenzo Bini Smaghi would fill the position...freeing up a seat on the powerful ECB board...for a Frenchman.
      Instead, Silvio threw a spitball...and unexpectedly nominated veteran Italian banker Ignazio Visco...which means Italy will keep 2 seats on the ECB board...and France will have none.