Axel Weber, the president of the Bundesbank, does not plan on serving a second term, a source within the central bank told CentralBanking.com on Wednesday afternoon.
Weber's first eight-year term as Bundesbank president is set to conclude on April 30 next year. The source said he does not intend to seek a renewal. There is no maximum number of terms that a Bundesbank president can serve.
The confirmation follows media reports on Wednesday that Weber was out of the running for the post of preside