16 February 2011, 19:13  Jens Weidmann be a head of Germany central bank.

German Chancellor Angela Merkel today chose Jens Weidmann, a close aide, to head Germany's powerful central bank, a move analysts took to mean she has given up on having a German lead the European Central Bank. The appointment of Weidmann, 42, followed the surprise resignation of Axel Weber last week and sparked concerns in some quarters that the jealously guarded independence of the Bundesbank might be undermined. 'Anyone who knows Jens Weidmann knows that has excellent professional skills, a brilliant intellect and that he has an independent mind,' Merkel said, apparently responding to such concerns. Weidmann will take up his new position on May 1, Merkel said, also appointing Sabine Lautenschlaeger-Peiter as vice-president of the institution. Foreign Minister and vice-chancellor Guido Westerwelle said Germany had not 'given up on its ambitions for the ECB. We want to contribute to a German culture of stability in Europe.' Weber was a front-runner for the ECB job and there was much speculation that Berlin had held off from pushing for other top European positions in the hope of getting their man into the Eurotower in Frankfurt, the ECB's headquarters.

© 1999-2024 Forex EuroClub
All rights reserved