German Bundesbank chief to receive France's highest award

The head of Germany's central bank, Joachim Nagel, is to receive France's highest honour on Friday, the Order of the Legion of Honour.

Nagel is to be presented with the insignia of Knight of the National Order of the Legion of Honour in an afternoon ceremony at the French embassy in Berlin, according to the Bundesbank.

Beforehand, he will give an address alongside François Villeroy de Galhau, honorary governor of the French central bank, on Europe and Franco-German relations.

The award recognizes Nagel's commitment to Franco-German cooperation, the Bundesbank said.

"It is a symbol of the vibrant partnership between Germany and France and of the importance of shared values and cooperation in Europe," the bank added in a statement.

The Legion of Honour (Légion d'Honneur) recognizes outstanding civilian and military service to France and its values.

It is awarded to individuals who have rendered exceptional service to the country or the ideals of the Republic, regardless of nationality or social status, the Bundesbank said.

The order was founded on May 19, 1802 by Napoleon Bonaparte. Among the first Germans to be admitted to the Legion of Honour was Johann Wolfgang von Goethe.