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The Bundesbank announced on Wednesday that President Jens Weidmann, one of the more conservative members of the European Central Bank’s Governing Council, will step down on December 31.
“I have come to the conclusion that more than 10 years is a good measure of time to turn over a new leaf – for the Bundesbank, but also for me personally,” the Bundesbank quoted Weidmann as saying.
Weidmann is stepping down as head of the German central bank, which he has led since May 2011, for personal reasons, according to the bank.
Story by : Norvisi Mawunyegah