And the consideration of this power is usually silent

Had it been Max for first name, could mock on the lyrics of the song of Hervé Christiani: "It is free Max", who "lives his life without deal faces / that make him fish in the trap." But this weber there is is very not Max, unlike the great sociologist. It is Axel Economist. He is President of the Central Bank of Germany, the famous Bundesbank, for six years. And talk about him has done much lately. Without caring faces, it was indeed publicly criticized the decision of the European Central Bank (ECB) to buy public bonds. Or as it belongs to the Board of Governors of the Central Bank said, it has been associated with decision. And the consideration of this power is usually silent.

By the days, such a declaration may be sufficient to trigger a financial deluge. It is therefore a dangerous act, that its critics have criticized. With even more vigour that he might become the next boss of the ECB, after the departure of Jean-Claude Trichet irrevocably scheduled for October 2011. According to a persistent rumor, Paris gave its agreement to this appointment in exchange for the German "Ja" (x) plan (s) of the Greece rescue.

But Axel Weber is a strict man. If he had known Max, even could have the parallel with the famous children's book "Max and the maximonstres." This max ci is a boy who share an imaginary country where he is frightened by also imaginary maximonstres before Taming them. Axel, he's afraid of the maximonstres Inflation and Déficitpublic, that he hopes to be tame one day. In a discussion of economic policy, it is not very difficult to know where it goes down: with rigor. It is still that we underestimated the stimulating effects of monetary policy or fiscal stimulus. He denounced the excesses of the banks and the failure of rating agencies. And when Olivier Blanchard, Chief Economist of the IMF, has dared to launch the idea that a 4 inflation could have some interest, that was long time professor at the University and research centers immediately took his pen to publish a vengeful Forum in the "Wall Street Journal".

Axel Weber has faith in the stability - and economic analysis. In any event, there is often something religious in the currency. It is striking in Germany, where Weber predecessors at the head of the Bundesbank had all something of the prelate. Karl-Otto Poehl, who headed the Buba at reunification, was the reincarnation of a greedy Bishop. His successor, Helmut Schlesinger, was Lutheran pastor. The following, Hans Tietmeyer, had studies of Theology and Benedict would have thought him for return order in the finances of the Vatican. Axel Weber is of a different kind. At first glance, it looks more like a third line of rugby. A full more than Trichet, massive shoulders, square jaw, eyes blue steel, serious voice. This human-it goes right ahead, without do in lace - what is rather unusual in the world of finance.

An aggressive rigoriste For many, a such character to head European Central Bank may do much harm to the economy of the euro area. Instead, it is the ideal man. First, it will give confidence to market players, more than his rival Mario Draghi, who presents the double handicap to be Italian and former Goldman Sachs. However, we need confidence in the months and years to come. In this perspective, the recent criticism of Weber against bond purchases is more the words of campaign of a candidate for the outrageous rebellion. Then, a Falcon will be more credible to explain the inevitable blows of pocket knife to the monetary orthodoxy that will have to give in the future to save a financial system not be healed. Finally, person that a German will not explain to the Germans that they have a vested interest in keeping the euro, and that its destruction would undermine a decade of effort to become competitive. To the concerned fated, remembered that the ECB is a deeply collegiate institution. And Weber (Axel) has three qualities of good politics that defined Weber (Max): "the passion, a sense of responsibility, and the sense of proportion."