Italian Job — Mario Draghi and the story of a bad bank turned good

The former US Treasury Secretary Timothy Geithner’s recently published memoir, Stress Tests is deeply uncomfortable reading for anybody even remotely interested in the fortunes of the eurozone.

Mr Geithner lays bare the inept and shortsighted response by EU leaders to the financial and debt crises that threatened to rip the eurozone apart.

The fact that the single currency is still in use, and all member states are still in the club, rests squarely on the shoulders of one man, according to Geithner. And he is the president of the ECB, Mario Draghi.