ECB’s Lagarde Regrets Wedimann’s Resignation

Bundesbank President Jens Weidmann, a relentless critic of the European Central Bank’s ultra-easy monetary policy, will step down from his post on Dec. 31, with more than five years left on his term, the German central bank said on Wednesday.

Commenting on Bundesbank President Jens Weidmann’s decision to resign at the end of the year, Christine Lagarde, President of the Europen Central Bank (ECB), said that she immensely regrets his resignation.

“Jens is a good personal friend on whose loyalty I could always count,”

“While Jens had clear views on monetary policy I was always impressed by his search for common ground in the Governing Council, by his empathy for his Eurosystem colleagues, and his willingness to find a compromise.”

Lagarde noted in a statement, per Reuters.