ECB chief Draghi to attend Fischer farewell

Guests will include Larry Summers, Bank of Ireland Governor Patrick Honohan, and Bank of Chile Governor Rodrigo Vergara.

Sources inform ''Globes'' that European Central Bank President Mario Draghi will arrive in Israel on June 18 as a guest of honor for the ceremony the Bank of Israel is organizing for the retirement of Governor Prof. Stanley Fischer. The ceremony will be held at Israel Museum's Springer Auditorium at a cost of NIS 100,000, which the Bank of Israel says it will finance from its own sources.

Among the other guests will be Larry Summers, who was Secretary of the Treasury under President Bill Clinton and an economic advisor to President Barack Obama; Central Bank of Ireland Governor Patrick Honohan; Central Bank of Chile Governor Rodrigo Vergara; JPMorgan Chase International chairman, and former Bank of Israel governor, Jacob Frankel; and Michael Woodford, one of the world's top monetary experts.

The Bank of Israel said that this was not "Fischer's ceremony", but a professional meeting in every way, with the participation of top economists. "This is a great honor for the Israeli economy," said the Bank of Israel. Nonetheless, the invitations state that this is a farewell for Fischer.

Deputy Governor of the Bank of Israel Karnit Flug, Fischer's favored candidate to succeed him, will give the opening remarks. Other Israeli invitees are members of the Bank of Israel Monetary Committee and its manager.

Fischer is due to leave the post within a month, and his successor has not yet been named.

Published by Globes [online], Israel business news - - on May 30, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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