Friday, 9 September 2011

Top ECB official Stark resigns unexpectedly (AP)

FILE - In this March 16, 2010 file photo European Central Bank executive board member Juergen Stark addresses the Committee on Economic and Monetary Affairs of the European Parliament, at the European Parliament in Brussels. The European Central Bank said Friday Sept. 9, 2011 that top official Juergen Stark is resigning 'for personal reasons' almost three years before the end of his eight-year term. Stark sits on the six-member executive council that runs the eurozone's top monetary authority day to day. He is responsible for economics, which means he is often described as the bank's chief economist. Stark, 63, is a former official with Germany's Bundesbank and is regarded as a hawk - an advocate of higher interest rates and less expansionary monetary policy. (AP Photo/Yves Logghe, File)AP - The European Central Bank says that top official Juergen Stark is resigning well before the end of his term, removing a key voice for tougher rate policy and raising questions about the bank's course during Europe's debt crisis.


Source: http://us.rd.yahoo.com/dailynews/rss/europe/*http://news.yahoo.com/s/ap/20110909/ap_on_bi_ge/eu_european_central_bank

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