Eearlier Vincent Fernando noted the uber-hawkish speech yesterday from Bundesbank chief Axel Weber.Weber, who comes from the hard money German school of monetary policy, says it’s time for the ECB to end its bond buying, which has been a lifeline for countries like Greece, Ireland, and Portugal.
An interesting question that some are raising is: did Weber just cost himself a shot to replace Jean-Claude Trichet.
That’s what some are suggesting to Bloomberg, and frankly, unless there’s a major improvement in the EU economy, and a growing belief that no more bailouts will be necessary, we think ECB leaders will be paranoid about giving the job to Weber.
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