The German cabinet approves Nagel to be a Bundesbank spokesman

The German cabinet approves Nagel to be a Bundesbank spokesman ...

Friday, March 22th, The german parliament approved the appointment of Joachim Nagel, a career central banker who was ties to the ruling Social Democrats, as the new president of the Bundesbank said the spokesperson for the government, Steffen Hebestreit.

Nagel is coming from Jens Weidmann on Jan. 1 - and has quit five years early after long-standing opposition to the European Central Bank's stimulus policy of low interest rates and massive purchases of government bonds.

The German Chancellor Olaf Scholz and finance minister Christian Lindner have earlier proposed that the 55-year-old economist take over the biggest national bank of the eurozone.

The appointment comes as inflation reaches twice the 2% target of the ECB, and opposing people in the Governing Council have totally different views on its expected evolution.

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