Weber triggers ECB succession talk

Article reports that Axel Weber indicated in February 2011 that he would not serve a second term as Germany’s Bundesbank President, but left open whether he might succeed Jean-Claude Trichet as President of the European Central Bank later in 2011.

The next ECB President would be chosen by eurozone political leaders during 2011 and Angela Merkel, the German Chancellor, was widely expected to push for a German candidate. Mr Weber had neither declared himself an official candidate nor ruled himself out.

Subsequently, it was said that Mr Weber’s decision not to run for a second term at the German central bank had caused consternation in Berlin, where government officials admitted that he was no longer a credible candidate for the ECB role.

ESO: Background information: Europeans favour German as next ECB chief http://www.europeansources.info/record/europeans-favour-german-as-next-ecb-chief/

EUObserver, 11.2.11: Berlin scrambles for new EU bank candidate http://euobserver.com/9/31789

Spiegel Online International, 10.2.11: Bundesbank President Weber's Decision 'a Disaster for Merkel' http://www.spiegel.de/international/germany/0,1518,744713,00.html

Financial Times Deutschland, 10.2.11: Merkel’s favourite for ECB bows out (via PressEurop) http://www.presseurop.eu/en/content/news-brief-cover/497391-merkel-s-favourite-ecb-bows-out

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