Factbox: Who will be the Bundesbank’s next chief?

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FRANKFURT, Oct 20 (Reuters) – Bundesbank President Jens Weidmann, a relentless critic of the European Central Financial institution’s extremely straightforward financial coverage, will step down greater than 5 years early, opening the door for Germany’s new authorities to choose a much less confrontational successor.

Beneath is an inventory of potential candidates to take over on the German central financial institution when Weidmann leaves his position on Dec. 31.


Wieland is a long-serving member of the German Council of Financial Specialists, which advises the German authorities.

He has usually warned that an excessively free financial coverage might create monetary bubbles, however defended the ECB’s bond-buying programme when Germany’s constitutional courtroom heard a 2019 problem to its stimulus programmes.

Wieland just lately he anticipated the ECB to sluggish its asset purchases subsequent yr and lift rates of interest in 2023, including that the detrimental charge on deposits may very well be carried out away with sooner than beforehand thought.

Wieland teaches financial economics on the College of Frankfurt.


Fratzscher is probably the most “dovish” candidate on the listing, having backed the European Central Financial institution’s ultra-loose financial coverage and known as for extra fiscal spending in Germany.

A former European Central Financial institution economist, he teaches macroeconomics and finance at Berlin’s Humboldt College and runs the DIW Berlin think-tank.


Weizsäcker has been the chief economist of the German Ministry of Finance underneath Olaf Scholz, who’s now the main candidate to succeed Angela Merkel as chancellor.

He was a member of the European Parliament for Scholz’s Social Democrats between 2014 and 2019, sitting on the Committee on Financial and Financial Affairs.

A outstanding member of an aristocratic household, he’s a pro-European economist who’s nicely regarded by the German centre-right.


Feld’s predominant subject of analysis is financial and monetary coverage.

Seen as a consultant of Germany’s financial orthodoxy, he has prior to now known as for greater rates of interest to stop a property bubble in his nation.

However he has additionally defended the ECB’s asset purchases earlier than Germany’s constitutional courtroom and backed the euro zone central financial institution’s response to the coronavirus pandemic.

A former chair of the German Council of Financial Specialists, Feld teaches financial coverage and constitutional economics on the College of Freiburg. He has been chosen as the pinnacle of Vienna’s Institute for Superior Research.


Schnabel is a member of the European Central Financial institution’s Government Board, which might make a change to the Bundesbank unprecedented.

In her first two years as an ECB board member, Schnabel has damaged the mould of German opposition to bond purchases and detrimental rates of interest and has defended the ECB from critics in her native nation.

She has just lately struck a hawkish word by saying inflation may grow to be greater than the ECB presently expects.


Röller has been Angela Merkel’s chief financial adviser for a decade, having changed Weidmann because the German Chancellery’s director basic for financial and monetary coverage in 2011.

As a tutorial his predominant focus was on innovation and competitors and he has not publicly commented on financial coverage. He additionally served as chief competitors economist on the European Fee within the 2000s.

Röller was questioned by German lawmakers earlier this yr over his position within the Wirecard scandal.


Buch has been the Bundesbank’s vice-president since 2014 after a two-year stint on the German Council of Financial Specialists.

The 55-year previous former college professor accompanies Weidmann to conferences of the ECB’s Governing Council.

However she has largely steered away from the financial coverage debate in public, focusing as a substitute on points regarding monetary stability.


The Bundesbank’s chief economist has labored for the German central financial institution since 2005 after a five-year stint as the overall secretary of the German Council of Financial Specialists.

The 52-year-old economist is lively on Twitter however has not expressed views about financial coverage in public, primarily explaining the ECB’s choices and commenting on the financial outlook.

Reporting by Francesco Canepa; Modifying by Catherine Evans


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