Axel Weber

Axel Weber is a renowned German economist, former President of the Federal Bank of Germany, and a member of the European Central Bank Management Committee. He is an expert in international monetary theory and policy, and one of the five think tanks of the former German Chancellor Schr \u00f6 der Economic Advisory Committee. Weber was born in Kussel, Germany in March 1957. He graduated from the University of Konstanz in 1982, majoring in economics and public policy, and obtained a teaching qualification diploma. Before entering the banking industry, Weber had been working in college. From 1982 to 1988, Weber served as a research assistant in monetary economics at the University of Siegen and obtained a doctoral degree in economics from that university in 1987. In 1994, Weber went to the University of Bonn as a professor, and in 2001, he became a professor of international economics at the University of Cologne. Gradually, Weber's solid academic and theoretical foundation, as well as his outstanding analytical and insightful abilities, attracted the attention of the official and banking communities. From 2002 to 2004, he began serving as a member of the German Committee of Economic Experts. In October 2002, he became a member of the Expert Advisory Group of the Federal Bank of Germany. Since 2004, he has served as the Chairman of the Federal Bank of Germany and a member of the European Central Bank Management Committee. Weber is a well-known hawk in the European banking industry and has been a supporter of low inflation policies since he was elected as the governor of the Bundesbank in 2004. The current is a critical period of economic recovery in Europe, so many European countries have expressed that the market is calling for a strong successor. Many European investors believe that the next president of the European Central Bank must be proficient in monetary affairs, and monetary policy is the true reason for the existence of the central bank. As an academic official, Weber undoubtedly possesses this quality. Before the emergence of the euro in 1999, the German mark became the benchmark currency in Europe, and Weber played a significant driving role in it. Weber has a tough and outspoken style. In May 2010, in order to cooperate with the 750 billion euro temporary financial stability mechanism jointly launched by the European Union and the International Monetary Fund, the European Central Bank launched the treasury bond purchase plan of member countries. Weber has repeatedly criticized in public that this distorts the functions of the European Central Bank and may fuel inflation in the eurozone. On February 11, 2011, a spokesperson for the German Chancellor stated that the current Bundesbank Governor, Weber, will officially step down from his position as Bundesbank Governor on April 30.