Ciampi, who also served briefly as prime minister in a 1993-94 caretaker government of technocrats, was president from 1999-2006.
He was so popular that he was widely urged to serve a second term - a proposal he declined on the grounds of his advanced age.
Ciampi spent 14 years as governor of the Bank of Italy and later served as a treasury minister, a role in which he was the principal architect of Italy's adoption of the euro as one of the founder members of the single currency.
A career economist, Ciampi was politically on the centre- left although he was not officially aligned to any party for the bulk of his career.
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He took over as prime minister at a time when Italy was reeling from the enormous "mani pulite" (clean hands) corruption scandal.
As president, a largely ceremonial role in Italy, he was credited with being a restraining influence on Silvio Berlusconi when the controversial media tycoon was prime minister.