Daniele Franco (born 7 June 1953) is an Italian

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

central bank A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union, and oversees their commercial banking system. In contrast to a commercial bank, a central ba ...

er and

civil servant The civil service is a collective term for a sector of government composed mainly of career civil servants hired on professional merit rather than appointed or elected, whose institutional tenure typically survives transitions of political leaders ...

who served as Minister of Economy and Finance in the

cabinet Cabinet or The Cabinet may refer to: Furniture * Cabinetry, a box-shaped piece of furniture with doors and/or drawers * Display cabinet, a piece of furniture with one or more transparent glass sheets or transparent polycarbonate sheets * Filing ...

of Prime Minister

Mario Draghi Mario Draghi (; born 3 September 1947) is an Italian economist, academic, banker and civil servant who served as prime minister of Italy from February 2021 to October 2022. Prior to his appointment as prime minister, he served as President of ...

from 2021 to 2022. From 2020 until 2021, he served as director-general of the

Bank of Italy The Bank of Italy (Italian: ''Banca d'Italia'', informally referred to as ''Bankitalia''), (), is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, via Nazionale, Rome. The bank's curre ...

Early life and education

Franco graduated from the

University of Padua The University of Padua ( it, Università degli Studi di Padova, UNIPD) is an Italian university located in the city of Padua, region of Veneto, northern Italy. The University of Padua was founded in 1222 by a group of students and teachers from B ...

in 1977 with a degree in

political science Political science is the scientific study of politics. It is a social science dealing with systems of governance and power, and the analysis of political activities, political thought, political behavior, and associated constitutions and la ...

. In 1978, he obtained a masters degree in business organisation from the University Consortium of Business Organization of Padua. In 1979 he obtained a master's degree in

economics Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and intera ...

from the

University of York , mottoeng = On the threshold of wisdom , established = , type = Public research university , endowment = £8.0 million , budget = £403.6 million , chancellor = Heather Melville , vice_chancellor = Charlie Jeffery , students ...

, Great Britain

Career

In 1979, Franco joined the Bank of Italy. From 1994 to 1997, Franco was economic advisor to the

Directorate-General for Economic and Financial Affairs The Directorate-General for Economic and Financial Affairs (DG ECFIN) is a Directorate-General of the European Commission. The DG ECFIN is located in Brussels, Belgium, and Luxembourg. Its main responsibility is to encourage the development of Ec ...

of the

European Commission The European Commission (EC) is the executive of the European Union (EU). It operates as a cabinet government, with 27 members of the Commission (informally known as "Commissioners") headed by a President. It includes an administrative body o ...

. From 1997 to 2007, he again worked at the Bank of Italy, where he was director of the public finance section of the Research Department. From 17 May 2013 to 14 May 2019, Franco served as president of the State General Accounting Office. From 20 May to 31 December 2019 he was Deputy Director-General of the Bank of Italy, after which point he became Director-General. On 13 February 2021, Franco was appointed Minister of Finance and Economy in the Draghi cabinet. In this capacity, he chaired the meetings of

G20 The G20 or Group of Twenty is an intergovernmental forum comprising 19 countries and the European Union (EU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigatio ...

Ministers of Finance when Italy held the group's presidency in 2021.

Other activities

European Union institutions

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions ...

(EIB), Ex-Officio Member of the Board of Governors (since 2021) *

European Stability Mechanism The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was ...

(ESM), Member of the Board of Governors (since 2021)

International organizations

African Development Bank The African Development Bank Group (AfDB) or (BAD) is a multilateral development finance institution headquartered in Abidjan, Ivory Coast, since September 2014. The AfDB is a financial provider to African governments and private companies i ...

(AfDB), Ex-Officio Member of the Board of Governors (since 2021) * Asian Infrastructure Investment Bank (AIIB), Ex-Officio Member of the Board of Governors (since 2021) *

European Bank for Reconstruction and Development The European Bank for Reconstruction and Development (EBRD) is an international financial institution founded in 1991. As a multilateral developmental investment bank, the EBRD uses investment as a tool to build market economies. Initially focus ...

(EBRD), Ex-Officio Member of the Board of Governors (since 2021) *

Inter-American Development Bank The Inter-American Development Bank (IDB or IADB) is an international financial institution headquartered in Washington, D.C., United States of America, and serving as the largest source of development financing for Latin America and the Caribb ...

(IDB), Ex-Officio Member of the Board of Governors (since 2021) *

International Monetary Fund The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

(IMF), Ex-Officio Member of the Board of Governors (since 2021)Board of Governors

(IMF).

References

, - {{DEFAULTSORT:Franco, Daniele Draghi Cabinet 1953 births Living people Finance ministers of Italy Italian economists Italian bankers Italian civil servants People from the Province of Belluno University of Padua alumni Independent politicians in Italy