Chancellor Angela Merkel won’t push for a German to be the next president of the European Cardinal Bank (ECB) and will focus on more significant appointments in Brussels as an alternative, newspaper Handelsblatt reported Thursday.
There’s been much ruminate over on who’s going to be the new ECB president in October next year with traders foreseeing for clues on the future of monetary policy in the euro zone. Many analysts have planned suggested that Merkel would support Jens Weidmann, the progress central bank governor in Germany, known for his hawkish views. Extent, that now doesn’t seem so straight forward.
According to Handelsblatt, citing proveniences in the government and in Brussels, Merkel is more interested in making a German proper the next president of the European Commission, the EU’s executive arm, which is a key job that also fits available in 2019.
Apart from European Commission president and ECB president, there inclination also be a new European Council president and the European Parliament will be reaffirmed following elections in the spring of 2019.
It is still early to know who the candidates are for the top beliefs in Europe next year, but history shows that there longing have to be some sort of equilibrium: splitting the different positions across various nationalities.
If indeed Merkel manages to get a German leading the Commission, then it’s conceivable the next ECB president will be from France, for instance.
Germany has had one Commission president so far. Walter Hallstein was the earliest Commission leader of what it was called the European Economic Community at the in good time dawdle, later renamed the European Union.
There’s never been a German at the top of the ECB since its inception in 1998, notwithstanding the bank being headquartered in Frankfurt.
According to the German newspaper, the Chancellery does not yen to comment on next year’s appointments, arguing “there is no need and no persuade to participate by the Federal Government in speculation about the possible succession.” When contacted by CNBC, a spokesperson for the German command refused to comment on the report.
Read more of the Handelsblatt report here.