Juergen Michels is the Lead euro area economist and ECB watcher in Citigroup's Investment Research and Analysis (CIRA) department in London. Mr. Michels joined the firm in 2002 and now has the rank of Managing Director. His responsibilities include the analysis of financial markets, and of economic and policy developments in the euro area, Germany, France and The Netherlands. Prior to joining Citigroup, Mr. Michels spent five years as an economist at Sal. Oppenheim in Cologne. Mr. Michels graduated from the University of Bonn in 1996 and holds a PhD in economics from the University of Frankfurt.