ECB's Draghi does his bit with salary to fight inflation

FRANKFURT Thu Feb 21, 2013 4:52pm GMT

European Central Bank President Mario Draghi testifies before the Committee on Economic and Monetary Affairs at the European Parliament in Brussels February 18, 2013. REUTERS/Eric Vidal

European Central Bank President Mario Draghi testifies before the Committee on Economic and Monetary Affairs at the European Parliament in Brussels February 18, 2013.

Credit: Reuters/Eric Vidal

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FRANKFURT (Reuters) - It's the European Central Bank's job to keep euro zone inflation in check and its boss appears to be doing his bit.

Mario Draghi's pay rose just 0.8 percent last year compared with what he and his predecessor as president, Jean-Claude Trichet, earned in 2011, ECB data shows.

The ECB targets inflation at below, but close to 2 percent.

Draghi is probably not hurting, however. He made 374,128 euros ($500,200) last year. On top of that, the Italian has the right to live for free at an ECB-owned residence.

Other Executive Board members also received similar pay raises, meaning their buying power decreased as prices rose 2.5 percent in the 17-country common currency bloc.

($1 = 0.7479 euros)

(Reporting by Sakari Suoninen. Editing by Jeremy Gaunt.)

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