Praise for German minister

Germany’s economy minister yesterday said Axel Weber was doing an excellent job as Bundesbank president but declined to comment on whether he should succeed European Central Bank president Jean-Claude Trichet. A German government spokesman said last week the government had not yet made a decision on who it would like to succeed Trichet as ECB president next year. Another German minister had been quoted in a newspaper saying he endorsed Weber as Trichet's successor but later said he had been misquoted.