Merkel Confirms Jens Weidmann To Succeed Axel Weber As Head Of Bundesbank

Reuters headlines.

Quick primer on Weidmann: oddly, no previous stint at Goldman Sachs.

From 1997 to 1999 he worked at the International Monetary Fund. He served until 2003 worked as Secretary of the German Council of Economic Experts. From there he moved to the Bundesbank, where he was until 2006 the head of the Monetary Policy and Monetary Analysis group. Since 2006 he was responsible for preparing the content and strategy of the G-20 round which was formed to counter the effects of the financial crisis. Chancellor Angela Merkel promoted him in December 2009 to the influential role of the Sherpa of the G8 summits[2] as she considers the G8 round to be only a pre-summit of the G20 round in the field of the world-wide financial system as well as that most other subjects need a wider context than the G8 as well (compare Heiligendamm Process for G8+5).