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Bundesbank May Gain ECB Ally as Latvian Joins Policy Team

The euro area’s newest entrant may give Bundesbank President Jens Weidmann an ally in his battle against monetary policy that he considers too risky.

Latvia’s Ilmars Rimsevics, 48, has joined the European Central Bank’s Governing Council after his country adopted the single currency on Jan. 1. His history of calling for budget cuts and structural reforms as the Baltic nation navigated a financial crisis echoes the views of Germany’s Weidmann, who has warned that easy money can derail fiscal efforts.