Position: Economy Minister
Incumbent: Pier Carlo Padoan
Term: Appointed in February 2014 by Prime Minister Matteo Renzi
- A former official at the International Monetary Fund, Padoan
was chief economist at the Paris-based Organisation for Economic
Cooperation and Development when he was named economy and
- He is the latest in a series of technocrats to take the
economy ministry portfolio, after his two predecessors, Fabrizio
Saccomanni, a senior official at the Bank of Italy and Vittorio
Grilli, former director general of the Treasury.
- His primary task will be to oversee growth-boosting measures
and structural reforms to the euro zone's third-largest economy
after years of decline, while maintaining strict limits on
- His international credibility will also be vital in
maintaining the confidence of Italy's European Union partners as
well as foreign investors.
- As head of the OECD's economics department, Padoan has called
for aggressive easing from the European Central Bank and was an
early critic of tough budget cutbacks in the euro zone's weakest
economies as they struggled with excessive debt.