The China Mail - Pro-Draghi League moderate named Italy economy minister

USD -
AED 3.672496
AFN 64.000202
ALL 80.906293
AMD 358.057859
ANG 1.789785
AOA 918.00003
ARS 1550.781701
AUD 1.431854
AWG 1.8025
AZN 1.705836
BAM 1.740036
BBD 2.003559
BDT 123.852313
BGN 1.747831
BHD 0.375489
BIF 2986.971974
BMD 1
BND 1.274158
BOB 12.010284
BRL 5.488702
BSD 0.994627
BTN 94.291535
BWP 13.758962
BYN 2.955771
BYR 19600
BZD 2.000463
CAD 1.396899
CDF 2312.501901
CHF 0.81723
CLF 0.024951
CLP 981.999904
CNY 6.680903
CNH 6.67941
COP 3247.87
CRC 451.369275
CUC 1
CUP 23.871582
CVE 98.090062
CZK 21.67665
DJF 177.122067
DKK 6.654245
DOP 59.93942
DZD 135.789296
EGP 55.342098
ERN 15
ETB 163.249788
EUR 0.890299
FJD 2.24775
FKP 0.745268
GBP 0.743006
GEL 2.598106
GGP 0.745268
GHS 11.593068
GIP 0.745268
GMD 73.999861
GNF 8810.408095
GTQ 7.60417
GYD 208.500872
HKD 7.845765
HNL 26.733444
HRK 6.76901
HTG 130.391459
HUF 324.5335
IDR 18139.8
ILS 3.165515
IMP 0.745268
INR 94.836702
IQD 1507.908268
IRR 1883408.50203
ISK 121.259715
JEP 0.745268
JMD 157.767152
JOD 0.709041
JPY 158.058501
KES 129.940004
KGS 87.449898
KHR 4062.751587
KMF 440.999851
KPW 899.999961
KRW 1340.964993
KWD 0.311199
KYD 0.8289
KZT 450.213523
LAK 22401.124415
LBP 89543.21849
LKR 330.928532
LRD 169.096028
LSL 16.579341
LTL 2.95274
LVL 0.60489
LYD 6.382657
MAD 9.775113
MDL 17.99331
MGA 4515.451812
MKD 54.771175
MMK 2099.52083
MNT 3598.087189
MOP 8.038145
MRU 40.373975
MUR 47.059726
MVR 15.455022
MWK 1724.696212
MXN 18.767501
MYR 4.070804
MZN 63.909942
NAD 16.579341
NGN 1343.380255
NIO 36.606575
NOK 9.264765
NPR 150.864442
NZD 1.78471
OMR 0.384492
PAB 0.994823
PEN 3.447319
PGK 4.462633
PHP 63.460053
PKR 275.144822
PLN 3.92885
PYG 5942.170819
QAR 3.625947
RON 4.755101
RSD 104.748008
RUB 81.67462
RWF 1471.080115
SAR 3.762939
SBD 8.051718
SCR 13.890446
SDG 601.510318
SEK 9.75791
SGD 1.279675
SHP 0.745545
SLE 22.910099
SLL 20969.504398
SOS 568.442122
SRD 37.542004
STD 20697.981008
STN 21.797153
SVC 8.703542
SYP 13001.999685
SZL 16.563773
THB 33.713498
TJS 9.14122
TMT 3.51
TND 2.972103
TOP 2.40776
TRY 50.019603
TTD 6.742932
TWD 32.837496
TZS 2646.995027
UAH 45.412048
UGX 4202.39832
UYU 39.987723
UZS 11861.722948
VES 890.036599
VND 25736
VUV 119.472328
WST 2.779309
XAF 583.99803
XAG 0.019433
XAU 0.000249574164
XCD 2.70255
XCG 1.79257
XDR 0.707052
XOF 583.99803
XPF 106.091876
YER 236.174961
ZAR 16.558398
ZMK 9001.196279
ZMW 20.156742
ZWL 321.999592
SSP 5745.96484
MXV 2.112498
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Pro-Draghi League moderate named Italy economy minister
Pro-Draghi League moderate named Italy economy minister / Photo: © AFP/File

Pro-Draghi League moderate named Italy economy minister

Giancarlo Giorgetti, named Italy's new economy minister on Friday, is considered one of the more moderate, pro-Europe members of Matteo Salvini's League party.

Text size:

He was a loyal supporter of outgoing prime minister Mario Draghi, serving as his minister of economic development.

The 55-year-old has spent most of his political career in the League, but does not hesitate in disagreeing with Salvini -- even if publicly, he denies any rift.

His political mentor was Umberto Bossi, who founded the party when it was the regionally focused Northern League.

"Umberto Bossi is a political master, he made me understand that politics is a game of chess, you have to calculate everything up to the last move," he said in an interview in March 2018.

Like Giorgia Meloni, the Brothers of Italy leader named prime minister Friday, he cut his political teeth in the youth wing of the Italian Social Movement (MSI), formed by supporters of fascist dictator Benito Mussolini after World War II.

But he was not the first choice for the economy ministry, one of the most important in the new government in Rome.

Meloni had in her sights Fabio Panetta, a senior executive in the Bank of Italy, and Daniele Franco, Draghi's finance minister, as she sought both continuity with the previous government and to reassure international investors.

"We aim to build an authoritative and top-level government," Meloni said repeatedly.

Giorgetti will have much to do to reconcile the costly election promises of the League and the need to reduce Italy's huge debt, in the context of soaring interest rates and fears of a looming recession.

A graduate in business economics from Bocconi university in Milan, he will have to look at the flagship measures of the right-wing coalition -- a flat tax, tax amnesties, a shield on energy prices for households and businesses and lowering the retirement age.

"It would not be an enjoyable expense, but to pay for the harm done by the war" in Ukraine, he said.

In contrast to Salvini, Giorgetti is reserved and eschews the limelight, refusing to join social media. "I don't put myself in the front row," he said.

An avid supporter of English football club Southampton, he served under former premier Giuseppe Conte's 2018-2019 government, notably as sports minister.

A practising Catholic and Americanophile, he was born on December 16, 1966 in Cazzago Brabbia, in northern Italy. His father was a fisherman and his mother was a textile worker.

From 1995 to 2004, he was mayor of the town of less than 800 inhabitants.

When his name came up, Ignazio La Russa, who co-founded Brothers of Italy with Meloni, said he could have been appointed to several roles.

"He could also be general of the armed forces. Giorgetti can do everything, he is my friend, there is no role that he cannot play," said La Russa.

M.Zhou--ThChM