By Giuseppe Fonte
ROME -Italy’s authorities is about to nominate veteran economist Riccardo Barbieri as director basic of the Treasury, changing Alessandro Rivera within the influential place, the financial system ministry stated on Thursday.
The transfer marks a victory for newly put in Prime Minister Giorgia Meloni, who was trying to take away Rivera and put her stamp on key positions.
Barbieri, 64, is at present the Treasury’s chief economist. Beforehand he has labored for main funding banks, together with J.P. Morgan, Morgan Stanley and Financial institution of America-Merrill Lynch.
Amongst different nominees, the ministry proposed that Biagio Mazzotta be confirmed as state auditor. The cupboard will meet at 6.30 p.m. (1730 GMT) on Thursday to ratify the appointments.
The function of Treasury director basic is very highly effective in Italy, the place bureaucrats get a considerable say in financial coverage making and oversight of state-controlled corporations in opposition to the backdrop of often revolving governments.
Earlier incumbents have included Mario Draghi, who later turned governor of the European Central Financial institution and Italian prime minister, and former financial system ministers Domenico Siniscalco and Vittorio Grilli.
The Treasury chief deputises for the financial system minister at G7 and G20 conferences and his division manages a public debt of roughly 150% of nationwide output, the second highest within the euro zone after Greece’s.
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