-
Why Berlin covets the ECB presidency
Missing in much of the talk about French President Emmanuel Macron’s grand vision to remake the eurozone is the simple, yet fundamental, question of what Berlin would demand in return. Those infatuated with Macron’s ideas for a eurozone finance minister equipped with a budget are confident that at least some of his blueprint will become reality after German elections in September. But German Chancellor Angela Merkel’s opening ask looks to be a big one: control of the European Central Bank. Merkel, who is likely to be reelected chancellor, has offered a vague endorsement of Macron’s initiative but has yet to ... (full story)