FRANKFURT, Germany?? The European Central Bank said Friday 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 of the ECB, the eurozone's top monetary authority. Responsible for economics, he is often described as the bank's chief economist.
According to The Wall Street Journal, Stark left his position due to a disagreement over the bank's bond-purchase program.
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.
The Associated Press contributed to this report.
Source: http://www.msnbc.msn.com/id/44452055/ns/business-world_business/
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