Italy May Propose Cipollone to Replace Panetta on ECB Board: FT

Italy may propose Piero Cipollone as its candidate to join the European Central Bank’s Executive Board to replace Fabio Panetta, the Financial Times reported.

Cipollone, a senior official at the Bank of Italy, is the government’s favored candidate, the paper said, citing three people familiar with the matter. He hasn’t been formally nominated by the Italian finance minister and other eurozone members could put forward their own candidates, the FT said.