Kenny coy over Draghi for ECB post

ITALY’S Mario Draghi is a strong contender to take charge of the European Central Bank (ECB) but, as in a major horse race, the favourite can never be assured of victory, the Taoiseach said yesterday.

Bank of Italy chief Draghi is the front-runner to replace France’s Jean-Claude Trichet as ECB president after his candidacy won the backing of Eurogroup chairman Jean-Claude Juncker and French President Nicolas Sarkozy.

These public endorsements have raised pressure on German Chancellor Angela Merkel, leader of the eurozone’s biggest economy, to accept Draghi as Trichet’s successor.