Slope of Hope Blog Posts

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Major Inflection Point (by Springheel Jack)

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The tone on Friday was largely set by the resignation of Jurgen Stark from the ECB, the second German to resign this year after Axel Weber, previously widely tipped to have been the next head of the ECB, resigned in February. Jurgen Stark's resignation was ostensibly 'for personal reasons' but it is widely assumed that the resignation of both germans was primarily due to disagreement with ECB policy, and Jurgen Stark's resignation  in particular to be in protest at the ECB's recent decision to start buying Italian and Spanish bonds.