HEAD OF EUROPEAN INVESTMENT BANK NOT UP FOR GERMAN FINANCE JOB

The head of the European Investment Bank, Werner Hoyer's name has come up as a possible candidate to be Germany’s next finance minister. However, Hoyer says he will be staying on at the helm of the EIB for the next six years.

Wolfgang Schaeuble, finance minister for the last eight years and a key figure in the eurozone's financial crisis, looks set to become the next speaker of Germany's parliament and is to be formally nominated next month following elections last Sunday.

Speaking to reporters in Athens, Greece, on Friday, Werner Hoyer said it was "nice to be mentioned" but that he was "extremely happy" as head of the EIB. He said the bank's governors had mandated him with another six years after his term ends on December. 31, "and I'm looking forward to that."