ECB loses Jürgen Stark to surprise resignation
The ECB has announced the surprise resignation of Jürgen Stark, a member of the Executive Board and Governing Council of the European Central Bank.
Stark informed President Jean-Claude Trichet of his decision, citing personal reasons for his departure.
He is to remain in position on a temporary basis until a successor is appointed, which is expected to occur before the end of the year.
Trichet thanked Stark for his outstanding contribution to European unity over many years, having worked with him for almost two decades.
The BBC has reported that Stark is thought to be amongst four ECB members who stood against the decision by the central bank to resurrect a programme of buying indebted eurozone nation bonds.
The ongoing eurozone sovereign debt crisis is the greatest challenge the single currency has seen since its birth, and has also been cited by MPC member Martin Weale as the biggest single danger to the UK economy.