It is Jurgen Stark and has communicated this Friday his resignation. He will remain in Office until they find substitute. The Economist j of the European Central Bank (ECB), the German Jurgen Stark, has resigned on Friday for personal reasons, but was known his opposition to the purchase of public debt of the countries of the euro which carries out the European Monetary Authority. The ECB said in a statement from that Stark announced this Friday to the President of the entity, Jean-Claude Trichet, who will leave office before the end of its mandate on May 31, 2014 due to personal reasons. Stark, who is a member of the Executive Committee and of the Governing Council of the ECB, will remain in place h horn which a substitute is found at the end of this year. The euro reacted with a fall after it was revealed the resignation of Stark, who has been a member of the Executive Committee and of the Governing Council of the ECB from 1 June 2006.
At 1415 GMT, the single currency was changed to 1,3727 dollars. The fluctuation band that moved the euro in the last hours has been extensive and has oscillated between $ 1,3698 and $1,3937. Trichet thanked Stark for his contribution to European unity after learning of his decision to leave his post. The ECB President dndio on Thursday and in a tone of unusual anger management of the European monetary institution in the current financial crisis to the criticism in Germany for the purchase of public debt. The ECB has had to intervene in the secondary market for sovereign debt to support Spain and Italy, whose risk premiums exceeded 400 basic points regarding the Bund (German bond to ten years), which serves as rrencia. The Monetary Authority began in May 2010 a public debt purchase program to support Greece, after being penalized by markets and through strong funding difficulties. Subsequently, the ECB also bought debt of Ireland and Portugal. Source of the news: resigns the j of the ECB Economist, contrary to Spanish and Italian debt buying
