Berlin pushes Weber for top job at ECB

Discussion in 'Economics' started by ASusilovic, Jan 21, 2010.

  1. Berlin has stepped up its campaign for Axel Weber, Bundesbank chief, to be elected president of the European Central Bank amid intense negotiations over the appointment of the number two position at the Frankfurt-based institution.

    German officials told the Financial Times that eurozone nations were leaning towards Vitor Constancio, Portuguese central bank chief, for vice-president, a move that would stop the bloc’s “southern flank” bidding for the top job.

    OMG ! Can^t this man be involved in some sort of scandal ? Bobody wants this hawkish pseudo central academic bank(st)er as ECB president...:(
  2. Axel "The Ax" Weber will be hiking rates until Club Med is back in the stone age :cool:
  3. the germans back the portuguese dove so they can have their hawk presiding.

    i am more inclined to see constancio/weber on the ECB, rather than a solution in which the presidency is occupied by dovish governor, given the weight of france/germany in the EU economy.

    this is also bad for the weak economies, i.e. PIGS as it would mean they have to tackle their budgetary problems more fiercely while the interest rates remain low, which wont be for much time.

    EDIT: buy euro :D