Stratthaus rejects Buba board membership

Gerhard Stratthaus, finance minister of the state of Baden-Wurttemberg, has declined to join the Bundesbank's board, according to the Financial Times Deutschland.

Stratthaus would have replaced future ECB board member Jurgen Stark.

According to the FTD, it is not known yet whether Baden-Wurttemberg will nominate another candidate or leave the position vacant.

The latter option is more likely if the states of Berlin and Brandenburg renounced their right to nominate a successor to Bundesbank board