Jens Weidmann

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Jens Weidmann
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Occupation President
Employer Bundesbank
Location Germany
Website www.bundesbank.de

Jens Weidmann is the president of Bundesbank, the German central bank. He took over that role in February 2011. Weidmann, 42 at the time he was chosen for the spot, is the youngest-ever Bundesbank chief.[1] He began as president in May 2011 and succeeded Axel A. Weber, who left on April 30, 2011.[2]

He is also chairman of the Bank for International Settlements (BIS).

Background

Weidmann did a stint at the French central bank, then later on worked for the International Monetary Fund. From 2003 to 2006, he led a small department in the Bundesbank specializing in monetary policy. Weidmann then became the head of the Department for Economic and Fiscal Policy at the Federal Chancellor’s Office, and was a personal representative of the Federal Chancellor in preparing for the world economic summits of the G8 and G20 countries.

In March 2012, Weidmann said that Europe needed the European Central Bank's "wall of money," or €500 billion ($667 billion). These cheap loans to banks, he said, only bought time and temporarily calmed the markets, and was not a lasting solution.[3]

Education

Weidmann studied economics in Aix-en-Provence, France, as well as in Paris and Bonn.[4]

References

  1. Merkel Names Adviser to Head German Central Bank. The New York Times.
  2. Germans pick Weidmann to head Bundesbank. USA Today.
  3. German central banker: ECB loans only buy time. AP via Yahoo! News.
  4. Dr Jens Weidmann. Bundesbank.