HUGE: German Uber-Hawk Axel Weber Won't Replace Trichet As ECB Chief

Axel Weber

Photo: en.wikipedia.org

Bundesbank chief Axel Weber won’t replace Jean-Claude Trichet as ECB chief later this year, according to Reuters.As Weber is super-hawkish, and seen as being much less friendly towards monetizing debt, this is big.

An official announcement from the German Bundesbank is expected later today.

The euro moved sharply lower on the news.

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