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Business

Chancellor Picks Woman as New "Wise Man"

For the first time in the 41-year history of Germany's Council of Economic Advisors know as the "wise men," a woman and a foreigner is set to join their ranks. Chancellor Gerhard Schröder has nominated Beatrice Weder di Mauro, a 38-year-old professor at the University of Mainz who has Swiss and Italian passports, for the post. Despite her age, Weder di Mauro can look back at a varied and high-profile career. She has worked for the United Nations University in Tokyo, Harvard University, the International Monetary Fund, the World Bank and the U.S. Federal Reserve. The group Weder di Mauro is set to join advises the government on economic issues and prepares an annual assessment of the German economy, which it releases in November. Schröder's cabinet is set to finalize her appointment on Wednesday.