Angela Merkel has confirmed that Jens Weidmann, her chief economic adviser, will become the next president of Germany’s central bank. The 42-year old will take the helm on May 1, becoming the youngest president in the Bundesbank’s history. – FT
As time passes, the rifts between the Bundesbank and the ECB grow wider. So do the rifts between what German citizens want and what German chancellor Angela Merkel is willing to do to "save the euro".
Merkel increasingly (and as expected) does what she need to do to preserve he legacy, consequences (and Germany) be damned.
Please consider Merkel tries to calm storms over Greece, ECB policy
FRANKFURT — The eurozone crisis is not over, France’s reforms are slipping and the Bundesbank has set aside billions in new provisions against what it sees as risky European Central Bank moves, Germany’s central bank said on Tuesday.
Presenting Bundesbank 2012 results that showed a sharp increase in its risk provisions, the German central bank’s chief, Jens Weidmann, urged governments to tackle the roots of their troubles with reforms.
Chancellor Angela Merkel is now under pressure from a third front, this time, from Jens Weidmann, president of the Bundesbank (Germany's Central Bank).
The Financial Times reports Weidmann warns Merkel over weakening
Germany’s top central banker has criticised the decisions of last week’s summit to help debt-laden eurozone members, warning that the bloc was “constantly mutualising risks and weakening the agreed rules”.
It took Germany's central bank less than a day to knock a reported proposal by the ECB to set interest rates caps on Spanish and Italian bond yields.
Bloomberg reports Bundesbank Widens Euro Rift With Criticism of ECB Bond Plan.
Germany’s Bundesbank stepped up its criticism of the European Central Bank’s plan to embark on potentially “unlimited” government bond purchases, widening a rift over how to tackle the sovereign debt crisis.
BERLIN (Reuters) - The head of the German central bank has the right to express his views on the euro zone crisis, Chancellor Angela Merkel said on Monday, after her finance minister suggested Bundesbank chief Jens Weidmann's comments may be having a harmful effect. "The European Central Bank's independence is for us important and I will not comment on (Weidmann's) remarks on ECB policy," Merkel told a news conference. "I know him and I know he is very concerned that the crisis is resolved in a truly sustainable way and that the euro is a stable currency," she added. ...
German Chancellor Angela Merkel voiced support for Bundesbank chief Jens Weidmann on Sunday, saying she welcomed his warnings about the handling of the euro zone debt crisis and saw his influence within ...
BERLIN (Reuters) - German Chancellor Angela Merkel voiced support for Bundesbank chief Jens Weidmann on Sunday, saying she welcomed his warnings about the handling of the euro zone debt crisis and saw his influence within the European Central Bank as positive.
BERLIN (Reuters) - German Economy Minister Philipp Roesler defended on Thursday Bundesbank President Jens Weidmann's opposition to the European Central Bank's bond-buying plans, saying he deserved the government's full support. "(Weidmann's stance) deserves the support of the entire German government," said Roesler, head of the pro-business Free Democrats (FDP), who share power with Chancellor Angela Merkel's conservatives, in a speech in Berlin. ...
With EURUSD hardly budging, constantly disappointing economic data (from periphery to the core now), and central bank transmission mechanisms that are entirely clogged and useless for anything but stuffing the pockets of bloated bank balance-sheets with domestic sovereign debt, it is no wonder Germany's Bundesbank has said 'enough'. "If we pursued our own monetary policy... it would look different," explained Bundesbank chief Jens Weidmann.