“Economic Wise”: SPD prevents Lars Feld from continuing his term in office

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The SPD has prevented another term of office for the chairman of the "Wirtschaftsweise", Lars Feld.

This means that Feld is leaving the Advisory Board at the end of February.

The "Handelsblatt" reported, the report was confirmed to the German press agency on Monday in coalition circles.

The Union wanted to hold on to the Freiburg economist.

As a rule, the term of office of a member of the Expert Council ends after two terms, this is the case with Feld.

Feld is regarded as a proven regulatory politician, i.e. oriented towards the principles of market and competition and against the great influence of the state.

According to reports, the SPD preferred a candidate like the Düsseldorf economist Jens Südekum.

This is closer to positions of the SPD, it said.

But there was no consensus on this in the coalition, so that there is initially no successor for Feld.

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Feld has been chairman of the Expert Council since March 2020, of which he has been a member since March 2011.

The five-person council of experts to assess macroeconomic developments advises politics.

The experts are colloquially referred to as the "economic wise men".