20 Dec 2021

Jan Krahnen: “An excellent choice for the office of Bundesbank President”

SAFE Director welcomes the proposal to appoint Joachim Nagel as successor to Jens Weidmann

Economist Joachim Nagel is to be appointed as the new president of Deutsche Bundesbank. Jan Pieter Krahnen, Director of the Leibniz Institute for Financial Research SAFE, comments as follows:

“I consider Joachim Nagel an excellent choice for the office of Bundesbank President. He has many years of expertise in capital market analysis and development. This kind of expertise plays a prominent role in today’s monetary policy debate given large bond purchase programs. Therefore, Joachim Nagel is also particularly suited to represent and develop the positions in a technical discussion that will advance Europe as a whole and at the same time fulfill the mandate of the Bundesbank and the European Central Bank, namely, to prevent inflation.

In the ECB governing council, Joachim Nagel will make a name for himself less as a ‘hawk’ or a ‘dove’ neither as a hardliner nor as a particularly lenient monetary policymaker. Rather, he is an expert who knows how to respond to the arguments of his discussion partners, conduct a dialog and thus work out a joint result. This ability is particularly important when it comes to Germany’s role in the Governing Council and finding a consensus there that the Bundesbank can also support.”

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