Euro area approves Draghi to become the next Director of the ECB (AP)

Brussels - the Ministers of finance European recommended Monday Mario Draghi Italian to be the next leader of the European Central Bank, paving the way for his appointment to a position where he will lead the fight against the crisis of debt and inflation.

Draghi, 63, became the prohibitive favorite for the job in three weeks after winning the support of the France and the Germany, the two largest of the block of the euro.

He is currently the head of the Central Bank of the Italy, and through this position, a member of the Committee of the ECB interest rate fixation.

The Board of directors a Summit of Heads of State and Government of the euro, countries are expected to give final approval to the Draghi candidacy in the next few weeks, after consultations with the European Parliament and the European Central Bank.

Draghi, a former Treasury official the World Bank and the Italian, would take the Bank based in Frankfurt for a period of eight years after the ECB current Chief Jean-Claude Trichet left on October 31.

The Bank sets interest rates for 17 countries 331 million people. He also played a leading role in the fight against the crisis of the debt of the Government of Europe, consultation on the plan of rescue for the Greece of the Portugal and Ireland and maintain the precarious banks afloat with emergency credit.

Nomination of Draghi have overcome initial skepticism to someone Italy in charge of the ECB, given the high levels of debt and unstable record on inflation in the country. Fighting inflation is the main mandate of the ECB under treaty that it sets.

Jean-Claude Juncker, Prime Minister of the Luxembourg who chairs the meetings of the euro group, said Monday that Draghi "together all the qualities to be a worthy successor to Jean-Claude Trichet."

Juncker called Draghi "a central banker who has proved throughout his career that he holds dear the principles of the euro and European monetary integration".

Head of the Bundesbank Germany to axel Weber was originally planned to do the work with the support of Chancellor Angela Merkel. However, he withdrew after a conflict in public with the majority on the ECB Governing Council on their decision to start to buy bonds from the Government of the country including precarious finances.

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