As an academic economist, Mr Weber was not an obvious choice for the Bundesbank when his predecessor, Ernst Welteke, was forced to quit over an expenses scandal. Mr Weber had steadily built his career at the University of Siegen, before moving to Bonn, Frankfurt and Cologne. Academic snobs say such places hardly rank with MIT or Princeton, where Ben Bernanke, the Federal Reserve's chief, earned his spurs. That is too sniffy. Mr Weber has a solid body of publications to his name. By his industry he raised the profile of every university he worked at. “He's no lightweight,” says a British academic.

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