Bundesbank President to Step Down: Report

Bundesbank President Axel Weber plans to step down later this year, a decision that would rule him out of the race to succeed Jean-Claude Trichet as head of the European Central Bank, said a person who spoke to Weber today. Weber may leave his job about a year before his Bundesbank term expires in April 2012, said the person, who spoke on condition of anonymity. The German central bank head discussed his plans with Chancellor Angela Merkel today, the person said. – Bloomberg

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