Draghi’s ECB Campaign Gains Momentum as German Backing Grows

Mario Draghi’s campaign to run the European Central Bank is gaining momentum as some German officials signal they support the Italian taking charge of euro-area monetary policy.

German Finance Minister Wolfgang Schaeuble sees Bank of Italy Governor Draghi as the candidate likeliest to be appointed as the ECB’s next chief, say people familiar with his thinking. Deputy Foreign Minister Werner Hoyer, who manages European affairs, said last week Draghi would make a “very good” ECB president and uphold Germany’s goal of a stable euro.