EU leaders decide against Germany's Weber for Commission presidency - Die Welt

Dhwani Mehta FXStreet

Reuters is out with the report published by Germany’s Die Welt daily on Friday on the European Commission’s presidency.

The German news outlet quoted sources familiar with the decision, saying that the European Union leaders have agreed that conservative German candidate Manfred Weber will not become president of the bloc’s executive Commission.

Further Details:

“If confirmed, the compromise would be a blow to Chancellor Angela Merkel, who had backed Weber’s bid to replace Jean-Claude Juncker.

French President Emmanuel Macron had opposed Weber’s candidacy, partly because of his lack of experience in high office.

A senior European diplomat told Reuters that socialist Dutchman Frans Timmermans, a deputy head at the Commission, was the front-runner to succeed Juncker.

“Timmermans is the best placed,” the diplomat said.”

The European Council Special meeting is scheduled on Sunday to decide on the top 3 positions, the presidency for the EU Commission, the EU Council and the European Central Bank (ECB).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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