Merkel Focused on EC Presidency not ECB for Germany

Germany’s Jens Weidmann is seeing his prospects of becoming European Central Bank president fade, amid signs that trade issues handled in Brussels are eclipsing Berlin’s concerns about securing its man to steer monetary policy.



German business daily Handelsblatt reported on Wednesday that Chancellor Angela Merkel is focusing on winning the European Commission presidency for a German rather than backing Bundesbank chief Weidmann to succeed Mario Draghi.

Asked by Reuters about the report, Merkel told journalists on Thursday she had taken no decision yet on who she wanted to be the next ECB president.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza