Word: baffiingly
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Carli's replacement will be a triumvirate headed by his longtime deputy, Paolo Baffi, 64, a retiring monetary expert whose views are not known to differ from Carli's. The others are Rinaldo Ossola, 61, a former chairman of the International Monetary Fund's Group of Ten, who is credited with the invention of Special Drawing Rights, and Mario Ercolani, also 61, until now head of the bank's foreign exchange operations. The new team appears to have won the approval of Italy's business community. Says Tire Maker Leopoldo Pirelli: "While one regrets that...
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