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ECB approves Italy’s Cipollone as new board member

FRANKFURT (Reuters) – The European Central Bank’s Governing Council has approved the appointment of Italy’s Piero Cipollone as a member of the ECB’s Executive Board, replacing Fabio Panetta.

Cipollone, currently the deputy governor of the Bank of Italy, will officially be appointed by the European Council for an eight-year term, which should start after Panetta steps down on Oct 31.

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