Angela Merkel Just Kicked Axel Weber Out Of His Job


German Chancellor Angel Merkel’s office has just announced that Axel Weber will leave his post as head of the Bundesbank by April 30, according to CNBC.

After Weber decided not to run for head of the ECB, Merkel was likely upset and she had long hoped he would take over the job when vacated by Jean-Claude Trichet later this year.

After meeting today, Merkel appears to have either asked, forced, or accepted his resignation. No word yet on his sucessor, but get ready for more horse-trading.

The euro hasn’t really moved much on the news. The assumption would be that the end of a massive hawk’s reign at the Bundesbank would sink the euro, but it may already be priced in.


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