Schroder defeat could end Bofinger's ECB hopes

A defeat by Chancellor Gerhard Schroder in Germany's election in September could spell the end for Peter Bofinger's chances of succeeding Otmar Issing as the German representative on the European Central Bank's six-man executive board.

Klaus Regling, director-general of the European Commission's economic and financial affairs department, could now be in pole position to take Otmar Issing's seat at the ECB.

Until this week, Peter Bofinger, an academic economist liked by chancellor Gerhard Schrod