Jens Weidmann, who once served as Angela Merkel's economic advisor, has taken over as the new president of Germany's Bundesbank. Weidmann succeeds Axel Weber, who stepped down unexpectedly a year before his eight-year term was to end.
As head of Germany's central bank, Weidmann is expected to continue the Bundesbank's traditional hawkish position on inflation.
In his official first speech as Bundesbank president, Weidmann hinted that he would support raising the European Central Bank's interest rates in an effort to return the euro zone to "normal monetary policies."
Weidmann will also represent Germany as its ECB governor and many other ECB governors disagree with his expected push to withdraw special support the ECB provided to failing banks during the beginning of the euro zone crisis.
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