© 2026 Arizent. All rights reserved.

Career moves

Chief Economist Quits ECB Amid Bond Buying Discord

Published Updated 1 Min Read

Juergen Stark is set to announce his retirement as chief economist of the European Central Bank (ECB), according to several market reports.

Stark was due to remain at the ECB until May 2014. He is seen as an advocate of higher interest rates and was opposed to the ECB/NCBs bond buying program. During a Sept. 4 call, Stark expressed his strong opposition to the program, which was expanded last month when the ECB started buying Italian and Spanish bonds, according to a Bloomberg report.

“If true, the markets may read this that the ECB is set to buy more in size and potentially think more seriously about QE particularly with Mario Draghi set to take the helm in November,” explained Jefferies International analysts.

ECB President Juan Claude Trichet‘s term will end this year.

For reprint and licensing requests for this article, click here.

More From Asset Securitization Report

Rescue Finance

Draghi looks to ABS market as way to lift Europe’s small businesses —and economy.

Rescue Finance

Draghi looks to ABS market as way to lift Europe’s small businesses —and economy.

Spanish Covered Bonds: Pain or Gain from Bank Workouts?

In the aftermath of a critical audit of Spanish banks, some institutions will face any combination of restructuring, merger into a larger institution, a wind-down or bad-asset sales. Covered bonds are bound to feel some effect.