I didn’t think the ECB had an exchange rate policy???
German finance ministry spokeswoman Marianne Kothe says the ministry also backs Bundesbank president Jens Weidmann’s position on role of FX policy
She also says she sees no reason to change the ECB rotation principle.
I believe that refers to how often Germany would get to vote on the governing council. With the inclusion of more countries Germany’s vote rotation would be reduced.
Update: I knew we had a story somewhere. With Lithuania joining the eurozone next year the Germans will lose their permanent vote on the council
