Draghi May Reach for Bundesbank Manual When Taking Helm at ECB
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Italy’s Mario Draghi may reach for the German policy manual when he takes the helm of the European Central Bank.
Draghi, 63, will on Nov. 1 inherit an ECB that’s almost unrecognizable from the one Jean-Claude Trichet took charge of eight years ago. The bank’s balance sheet has more than doubled to 1.9 trillion euros ($2.7 trillion), mostly as a result of the extraordinary measures it used to battle the global financial crisis and now Europe’s sovereign debt woes.