Economics
Italy Could Be Shut Out of ECB's Control Room After Draghi Era
- The nation isn’t automatically entitled to another board seat
- Populists must negotiate with other euro-area governments
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Italy could soon find itself excluded from the heart of euro-area monetary policy for the first time in the currency’s two-decade history.
European Central Bank President Mario Draghi’s eight-year term ends in October 2019 and his country has no automatic path to a seat on the Executive Board after that. Instead, its populist leaders must negotiate with the same European governments that they’ve antagonized on issues including spending limits and immigration since coming to power in June.