Germany: Olaf Solz will ‘work hard’ for the EU, according to Kr. Lagarde

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The assurance that Olaf Solz, who is expected to be elected new Chancellor of Germany today, will “work hard” for the strengthening and integration of the EU, the President of the European Central Bank (ECB) expressed today in statements made in the German newspaper Handelsblatt.

“I am confident that the new government under him will continue to work hard to promote European integration,” he said, especially in promoting banking union and capital markets, the central banker told the German financial newspaper.

Lagarde, who has repeatedly clashed with Soltz at European and international summits, is convinced the Social Democrat leader will work “calmly, meticulously and focusedly” like outgoing Conservative Chancellor Angela Merkel.

Two and a half months after the German election, Olaf Solz is expected to be re-elected chancellor today, bringing the center-left back to power and ending Angela Merkel’s 16-year rule.

The 736 members of the Bundestag, who were elected on September 26, are expected to elect him in a secret ballot that will begin at 09:00 local time (10:00 Greek time) today.

One of the first decisions of the next government, led by Soltz, will be the appointment of a new chairman of the German central bank to succeed Jens Weidmann, who is resigning.

The decision is expected to be made by the end of the week, AFP was informed by a source close to the central banks.

Weidmann, a member of the Governing Council of the ECB, will step down shortly before the end of his term and at an important time for the future of European monetary policy.


Source From: Capital

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