Mario Draghi
Photo: European Parliament, CC BY 2.0, via Wikimedia Commons29

Mario Draghi

Prime Minister of Italy from 2021 to 2022

Mario Draghi (Italian: [ˈmaːrjo ˈdraːɡi]; born 3 September 1947) is an Italian politician, economist, academic, banker, statesman, and civil servant, who served as the prime minister of Italy from 13 February 2021 to 22 October 2022. Prior to his appointment as prime minister, he served as the president of the European Central Bank (ECB) between 2011 and 2019.2

From Wikipedia’s article on Mario Draghi (this version), CC BY-SA 4.0.

Born Sep 3, 1947.1

About

Draghi was also the chair of the Financial Stability Board between 2009 and 2011, and governor of the Bank of Italy between 2006 and 2011.

After working as an economist, Draghi worked for the World Bank in Washington, D.C., throughout the 1980s, and in 1991 returned to Rome to become director general of the Italian Treasury. He left that role after a decade to join Goldman Sachs, where he remained until his appointment as governor of the Bank of Italy in 2006. His tenure as Governor coincided with the 2008 Great Recession, and in the midst of this he was selected to become the first chair of the Financial Stability Board, the global standard-setter that replaced the Financial Stability Forum.

He left those roles after his nomination by the European Council in 2011 to serve as president of the ECB. He presided over the institution during the Eurozone crisis, becoming famous throughout Europe for saying that he would be prepared to do "whatever it takes" to prevent the euro from failing. In 2014, Draghi was listed by Forbes as the eighth-most powerful person in the world. In 2015, Fortune magazine ranked him as the world's "second greatest leader". He is also the only Italian to be listed three times in the Time 100 annual listicle. In 2019, Paul Krugman described him as "the greatest central banker of modern times." Moreover, thanks to his monetary policies, he is widely considered the "saviour of the euro" during the Euro area crisis. He has been nicknamed Super Mario by some media, a nickname that was popularised during his time as president of the ECB, when he was credited by numerous sources as having played a key role in combatting the Eurozone crisis.

After Draghi's term as ECB President ended in 2019, he initially returned to private life. On 3 February 2021, in the midst of the COVID-19 pandemic in Italy, Draghi was invited by President Sergio Mattarella to form a government of national unity (Draghi Cabinet), following the resignation of Giuseppe Conte. After successful negotiations with parties including the League (Lega - Salvini Premier), the Five Star Movement (M5S), the Democratic Party (PD), and Forza Italia (FI), Draghi was sworn in as prime minister on 11 February, pledging to oversee effective implementation of COVID-19 economic stimulus. Draghi was rated highly in public opinion polls in Italy during his time as prime minister; at the end of his first year in office Politico Europe ranked him as the most powerful person in Europe and The Economist named Italy as "Country of the Year", singling out Draghi's leadership as central to its nomination.

From Wikipedia’s article on Mario Draghi, shared under CC BY-SA 4.0.2

Companies

Early life and education

  • 1970Sapienza University of Rome3
  • 1977Massachusetts Institute of Technology Doctor of Philosophy3
  • Date not recordedLiceo Classico Massimiliano Massimo3

Mario Draghi was born in Rome on 3 September 1947 to an upper-class family; his father Carlo, who was born in Padua, Veneto, first joined the Bank of Italy in 1922, and later worked for the Institute for Industrial Reconstruction (IRI) and for the Banca Nazionale del Lavoro; while his mother, Gilda Mancini, who was born in Monteverde, Campania, near Avellino, was a pharmacist. He is the eldest of three children including Andreina, an art historian, and Marcello, an entrepreneur. When he was 15 years old, his father died; at 19, his mother died.

Draghi studied at the Massimiliano Massimo Institute, a Jesuit school in Rome, where he was a classmate of the future chairman of Ferrari, Luca Cordero di Montezemolo, the future prefect and civil servant Gianni De Gennaro and the future television presenter Giancarlo Magalli. In 1970, he graduated with honours in economics at the Sapienza University of Rome, under the supervision of Keynesian economist Federico Caffè; his graduation dissertation was titled "Economic integration and the variation of exchange rates". In his dissertation, Draghi was particularly critical of Luxembourg Prime Minister Pierre Werner's remarks that European monetary union was "premature". Draghi went on to earn a PhD in economics from the Massachusetts Institute of Technology in 1977. His dissertation was titled "Essays on economic theory and applications", completed under the supervision of Franco Modigliani and Robert Solow.

From Wikipedia’s article on Mario Draghi (this version), CC BY-SA 4.0.

Career

Occupation: economist, university teacher, politician, banker.12

  • 2021 to 2022Prime Minister of Italy5 6
  • 2011 to 2019President of the European Central Bank5
  • 2011 to 2019Chair, European Central Bank11
  • 2009 to 2011Chair, Financial Stability Board10
  • 2006 to 2011Governor of the Banca d'Italia5
  • 2005 to 2011Chair, Bank of Italy9
  • 2002 to 2005Worked at Goldman Sachs4
  • 2000 to 2001Chair, Economic and Financial Committee8
  • 1981 to 1994Professor, University of Florence4
  • Date not recordedWorked at University of Padua4
  • Date not recordedWorked at World Bank4
  • Date not recordedWorked at University of Turin4
More of their career (3)
  • Date not recordedWorked at University of Trento4
  • Date not recordedWorked at John F. Kennedy School of Government4
  • Date not recordedChair, Government of Italy7

Personal life

  • BornSep 3, 1947, Rome13
  • CitizenshipItaly14
  • Children215

In 1973, Mario Draghi married Maria Serenella Cappello, of noble origins and descendant of Bianca Cappello, and an expert in English literature, with whom he has two children: Federica, who worked as investment director of Genextra Spa and board member of Italian Angels for Biotechis, and Giacomo, a finance analyst, who worked as an interest-rate derivative trader at investment bank Morgan Stanley until 2017, and is now at the LMR Partners hedge fund.

Draghi is a Catholic of Jesuit education and is devoted to St. Ignatius of Loyola. Draghi has homes in Rome's Parioli district and in Città della Pieve in Umbria. He is a supporter of A.S. Roma, one of the football teams of his hometown, and a great fan of basketball. In 2015, he identified himself as a liberal socialist.

From Wikipedia’s article on Mario Draghi (this version), CC BY-SA 4.0.

Awards

  • 2022Order of Prince Yaroslav the Wise, 1st class16 24
  • 2021Time 10016
  • 2020Grand Cross 1st class of the Order of Merit of the Federal Republic of Germany16
  • 2019Commander of the Legion of Honour16 22
  • 2019Grand Collar of the Order of Prince Henry16 23
  • 2015Global Citizen Awards16 21
  • 2012Financial Times Person of the Year16
  • 2012M100 Media Award16 20
  • 2000Knight Grand Cross of the Order of Merit of the Italian Republic16 19
  • Date not recordedHonorary doctor of the University of Bologna16 18
More awards (3)
  • Date not recordedhonorary degree16 17
  • Date not recordedhonorary doctor of Tel Aviv University16
  • Date not recordedhonorary doctor of the University of Padua16

Sources

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