Investment Office Logo

What legacy will Mario Draghi leave to the ECB?

Could the ECB now revert to its original condition, i.e. an annexe to the Bundesbank?
Bruno Cavalier, Fabien Bossy ODDO BHF Corporates & Markets, Economy & Rates, 9 April 2019

Mario Draghi has only five meetings of the ECB's Monetary Policy Committee left to chair before the end of his term on 31 October. His successor will be appointed by the European Council, probably this summer, partly in light of 'political' factors, as the position of President of the ECB is seen as a trophy. Many claim that it is now Germany’s turn. Should this prove to be the case, it would certainly raise the question of Mario Draghi's legacy, namely the ECB's total commitment to defending the integrity of the Eurozone. Could the ECB now revert to its original condition, i.e. an annexe to the Bundesbank?