Draghi’s Finance Chief Made Name Keeping Italian Parties In Line
- Franco stood up to politicians over unfunded spending plans
- New Italian government due to face confidence votes this week
Daniele Franco
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
When Mario Draghi needed someone to convince Prime Minister Silvio Berlusconi that Italy needed to reform during the euro crisis, he sent Daniele Franco, a longtime confidante from the Bank of Italy.
A decade later, Draghi himself is in charge of rebuilding the Italian economy after Covid-19 and he has turned to 67-year-old Franco for help once again. Draghi picked the former state comptroller to lead his finance ministry as he prepares to formally take office as premier this week.