Christine Lagarde’s possible move to Washington and the International Monetary Fund isn’t the only major change happening this year among the top officials responding to the European debt crisis.
Jean-Claude Trichet, president of the European Central Bank, is scheduled to step down when his term ends Oct. 31. Mario Draghi, head of Italy’s central bank, has emerged as the likely candidate to succeed him.
Draghi will become a leading voice on the bailouts of Greece, Ireland and Portugal and the deepening debt problems in Spain, Italy and other European nations.
He will face dramatic tensions in the new job. The biggest is the opposition of German and French politicians to bailing out less fiscally sound European nations, which could endanger the euro.