“Bini Smaghi has given clear confirmation of his attachment to the principle and value of the independence of the European Central Bank. I wish to express the appreciation of the country for the sense of responsibility and loyalty also towards Italy which is expressed in this gesture of his". With these words the President of the Republic, Giorgio Napolitano, welcomed the resignation of Lorenzo Bini Smaghi from the role of executive director of the ECB.
The Florentine banker will therefore leave before the expiry of the mandate, set for 31 May 2013, to go to the International Affairs Center of Harvard University, from January 1, 2012, where he will teach.
Even the new president of the ECB, Mario Draghi he expressed his gratitude for “Bini Smaghi's outstanding contribution to the work of the ECB and his dedication as a member of the executive committee and the governing council for over six years”.
This resolves a diplomatic issue that had caused unpleasant friction between Italy and France. Last April, Prime Minister Silvio Berlusconi had promised French President Nicolas Sarkozy that the Florentine would leave his seat on the board to a representative from Paris. In return, the head of the Elysée had backed Draghi's candidacy for the leadership of the Eurotower. The delay with which Bini Smaghi left the ECB has been a source of many embarrassments, especially since November XNUMXst, the date on which the new Italian central banker took office.
