Following the February general elections, a new cabinet was sworn in on 28 April 2013 and Mr Fabrizio Saccomanni has been appointed Minister of Economy and Finance. Mr Saccomanni has also become EIB Governor for the Italian Republic.

Before his appointment as Minister of Finance, Mr Saccomanni was, since 2 October 2006, a Member of the Directorate and Director General of the Bank of Italy, an institution he joined in 1967.

From February 2003 to September 2006, Mr Saccomanni served as Vice President of the EBRD.

Between 1998 and 2002, he participated in the negotiations for the creation of the European Economic and Monetary Union and in the activity of the Committee set up by the Italian Government to manage the changeover to the single currency.

Previously, Mr Saccomanni served from 1991 to 1997 as chairman of the Foreign Exchange Policy Sub-Committee at the European Monetary Institute.

In 1976 he joined the Research Department of the Bank of Italy. In 1984, he was appointed head of the Foreign Department and in 1997 managing director for International Affairs.

From 1970 to 1975 he was seconded to the International Monetary Fund, Washington, first as an economist in the Exchange and Trade Relations Department and then as assistant to the Executive Director for Italy.

Mr Saccomanni, born in Rome in 1942, holds an M.A. degree in Economics from the Bocconi University in Milan and attended postgraduate courses in monetary and international economics at Princeton University.