BERLIN (Reuters) – A German government spokeswoman declined to comment on who would succeed Mario Draghi as head of the European Central Bank when his term ends in October after a newspaper reported that the prospects for Bundesbank chief Jens Weidmann were rising.

The spokeswoman said a decision on Draghi’s successor would be taken later in the year but confirmed that the German cabinet had agreed that Weidmann could extend his term for another eight years at the Bundesbank.

Weidmann had carried out his duties as Bundesbank President effectively so it would be good if he continued, said the spokeswoman.