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Second German resigns from ECB

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Jürgen Stark: Has quit ECB

European Central Bank (ECB) Chief Economist and Executive Board and Governing Council Jürgen Stark handed in his resignation "for personal reasons" on 9 September, the ECB stated.

Stark will remain in his position until a successor is found, with rumours suggesting that German Deputy Finance Minister Jörg Asmussen is expecting to be appointed.

The resignation adds to recent speculation over a hidden conflict within the ECB concerning its bonds-purchasing policy - the ECB bought a huge amount of bonds from indebted Eurozone countries over summer - Italy, Spain and Greece.

Bundesbank President Axel Weber resigned his post in February over the ECB bond-buying policy, thus effectively quitting his post at the ECB, as well.

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