Italy's ex-PM Mario Draghi considered for European Council Presidency

By Al Mayadeen English
Source: Financial Times
9 Jan 2024 16:47
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European Council President Charles Michel, whose term concludes at the end of November 2024, announced on Saturday that he intends to participate in the European Parliament elections and will step down from his position in the summer.

Former Prime Minister of Italy Mario Draghi, during a ceremony at which he was awarded the 2023 Miriam Pozen Prize, Wednesday, June 7, 2023, at the MIT Sloan School of Management in Cambridge, Mass.

The Financial Times newspaper reported on Tuesday that Mario Draghi, the former Prime Minister of Italy, is being considered as a potential candidate for the presidency of the European Council.

European Council President Charles Michel, whose term concludes at the end of November 2024, announced on Saturday that he intends to participate in the European Parliament elections and will step down from his position in the summer.

Financial Times reported that Mario Draghi, aged 76, who previously served as the President of the European Central Bank, played a crucial role in safeguarding the EU single currency in the aftermath of the 2008 financial crisis and during the eurozone crisis in the 2010s. He is highly regarded as a potential candidate for Michel's position by many EU officials and diplomats.

According to a source close to Draghi, the politician reportedly has no inclination to assume any prominent roles within the European Union, as mentioned in the newspaper.

The newspaper also noted that among the potential candidates for the position, there are current European prime ministers, including Pedro Sanchez of Spain and Mette Frederiksen of Denmark.

In the event that an agreement on the new president is not reached by the time Michel steps down, there is a possibility that Hungarian Eurosceptic leader Viktor Orban could assume the post. This is due to Hungary holding the six-month rotating EU presidency starting in July.

The European Council president is appointed for a term of two and a half years, with the option of renewal once. In March 2022, the European Council reaffirmed Charles Michel as its president, granting him a second term from June 1, 2022, to November 30, 2024.