Merkel Will Leave Weidmann Successor Choice to Next Coalition

(Bloomberg) -- The choice of who will succeed Bundesbank President Jens Weidmann is one for the next government rather than the outgoing coalition led by Chancellor Angela Merkel, according to a person familiar with the matter.

The chancellery distributed an internal note stating that the existing cabinet will not make personnel decisions, said the person, who spoke on condition of anonymity because such communications are private. That is understood to include that of the next central bank chief. 

Weidmann, a former economic adviser to Merkel, shocked observers on Wednesday when he announced plans to step down at the end of the year rather than when his current term finishes in 2027. He had been in the post for more than a decade.

Finance Minister Olaf Scholz’s Social Democratic party, the Greens and the pro-business Free Democrats last week agreed on the basic principles for a ruling alliance to take power in the aftermath of September’s general election. 

The parties will begin formal negotiations to hammer out the details on Thursday, and it’s feasible that the selection of Weidmann’s successor may now feature in those talks. 

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