German central bank head resigns citing personal reasons

Germany's Bundesbank President Jens Weidmann announced his resignation on Wednesday, citing personal reasons, according to a statement from the central bank.

Weidmann, who has been heading the bank since May 2011, will step down by the end of this year.

“I have come to the conclusion that more than 10 years is a good measure of time to turn over a new leaf for the Bundesbank, but also for me personally,” Weidmann wrote in a letter.