ECB’s Draghi denies Italy presidential bid

ECB's Draghi denies Italy presidential bid
Mario Draghi has regularly been mooted as a possible replacement of Giorgio Napolitano. Mario Draghi photo: Shutterstock
European Central Bank chief Mario Draghi rejected speculation on Wednesday that he had his eye on the Italian presidency.

Asked by the weekly newspaper Die Zeit about suggestions he could stand as a candidate to replace Giorgio Napolitano as Italy's president, Draghi replied: "I do not want to encourage any such speculation."

"It is, of course, a great honour to be viewed (as a possible candidate)," Draghi said.

"But it's not my job. What's important is the job I'm currently doing. I'm happy to do it and will carry on doing so," he said.

Napolitano, 89, resigned on Wednesday. He has cited his age and health for his decision, after he reluctantly agreed in 2013 to serve a second term to resolve deadlocked parliamentary elections that year.

Draghi has regularly been mooted as a possible replacement, but the Italian-born central bank chief has currently his work cut out for him trying to prevent the single currency area from slipping into deflation.

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