Brsen-Zeitung: Weidmann & # 39; s bad luck / Commentary by Claus Döring on the succession of Draghi message

Frankfurt (ots) – Jens Weidmann would like to see in October 2019
Successor of Mario Draghi as President of the European Union
Central Bank (ECB). He never has this office in public
demanded, but the wish is already emerging from Weidmanns
Understanding as president of the Bundesbank. A monetary politician
Body and soul as Weidmann, the central banker of the largest
Economy in the euro zone is, must strive for,
to be able to implement monetary policy ideas where possible
this is the most effective since the introduction of the single currency
can: head the ECB.

As a former economic advisor to Chancellor Angela
Merkel also knows Weidmann that the occupation of the high European
Offices are power-political decisions in which national
Share and influence count more than professional excellence
and loyalty. And that is why Brussels is not geographic, but
politically Berlin closer than Frankfurt. Because it is in Brussels in the
next year to succeed Jean-Claude Juncker as President
the European Commission. This office offers more design options
and is for the future of the EU and thus also for the political
The conditions in Germany are always more important than that
President & # 39; s post from an institution that is formally independent and
limited political control.

On the other hand, the head of the European Commission can even do something out of the ordinary
effect, most recently during the Juncker meeting and the US president
Donald Trump showed. At this post finally a German and
possibly to send political counselors
therefore more appeal to the Chancellor than the
Bundesbank President as head of the ECB. Bad luck
Weidmann, that only one of the two toppers is a person
Germans have to come to the train – or not at all.

That government district and the headquarters of the Bundesbank are more than it
separate geographical distance is not new. Helmut Schmidt
Criticism of the Bundesbank's policy is just as legendary as Helmut Kohl's
Ignore the warnings of the Bundesbank for German-German
Monetary Union and the subsequent introduction of the euro. For the Bundesbank
and the proponents of their monetary policy would support the
monetary imposition of the Draghi era now another
Low blow, the federal government would like Axel Weber
now also Jens Weidmann's support for the change in the
ECB tip failed.

(Börsen-Zeitung, 24.08.2018)

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