Piero Cipollone, Italy's choice for the European Central Bank's executive board, has a reputation for discreetly helping Rome's eurosceptic government rub along with EU institutions and brings skills in economics, particularly in digital money, tempered with pragmatism, people who have worked with him say. Cipollone, a three-decade veteran of the Bank of Italy, was the only candidate proposed to replace Fabio Panetta when nominations closed on Wednesday, the head of the Eurogroup of euro zone finance ministers Paschal Donohoe said. Each of the euro zone's three biggest economies - Germany, France and Italy - have traditionally had one representative on the six-member panel, and the Italian seat will fall vacant on Oct. 31 when Panetta moves to head the Italian central bank.
ROME - Piero Cipollone, Italy's choice for the European Central Bank's executive board, has a reputation for discreetly helping Rome's eurosceptic government rub along with EU institutions and brings skills in economics, particularly in digital money, tempered with pragmatism, people who have worked with him say.
Cipollone, 61, has been part of the Panetta-led task-force studying the creation of a digital euro, a project on which the ECB is expected to decide in October whether to push ahead. Like Draghi in the late 1980s, Cipollone spent four years at the World Bank where he supervised Italy, Albania, Greece, Malta, Portugal, San Marino, and Timor-Leste between 2010 and 2014.
He came to the fore when then-prime minister Giuseppe Conte, a lawyer with no previous political experience, asked Cipollone to advise him on economic matters. Conte is now 5-Star's leader. His press office declined to comment on Cipollone's time as his economic adviser.
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