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5/2/2019, 8:19 PM (Source: TeleTrader)
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Juncker: Weidmann suitable for ECB president

President of the European Commission Jean-Claude Juncker said that German Bundesbank President Jens Weidmann would be a suitable candidate to become the next president of the European Central Bank (ECB) after Mario Draghi's mandate expires in November. In an interview with Handelsblatt published on Thursday, Juncker described Weidmann as an experienced central banker and pointed out that he disagrees with the "southern Europeans' opinion" that a German person should not become the next chief of Eurozone's central bank.

Apart from Weidmann, governors of the French and Finnish central banks, Franois Villeroy de Galhau and Olli Rehn, are also being considered for the position. Additionally, ECB board member Benoit Coeure is another candidate to replace Draghi. Meanwhile, earlier this year, the Bundesbank board decided to extend Weidmann's term for another eight years, which placed him as a major candidate to assume the position of the ECB's chief.

Breaking the News / SS