ZeroHedge – Tyler Durden – Another German Steps Down From The ECB As Joerg Asmussen Leaves For Deputy Labor Minister Post – 15 December 2013

ZeroHedgeOne of the more vocal members of the ECB’s governing council and executive board, 47-year old German Joerg Asmussen, surprisingly announced this morning that he is stepping down for “purely private family reasons.” Concurrently, the German who has been a less tenuous version of his far more outspoken and hawkish compatriot Jens Weidmann, announced that he would accept a job as Deputy Labour Ministry job in the new German
government. What is surprising is that the German was not appointed finance minister in Merkel’s new cabinet, although with Schrodinger Schauble determined to keep his position it is explainable. What is more surprising is that Asmussen replaced none other than Juergen Stark, who once was said to be Trichet’s successor, and who dramatically quit the ECB over disagreements on the bank’s bond monetization program. One wonders: is Joerg’s untimely departure just the latest indication that the ECB is finally preparing to unroll a blanket quantitative easing program, just as BNP predicted it would, in its desperate, last-ditch attempt to defeat Europe’s slide into outright deflation and credit-creation collapse? Certainly, if Weidmann were to quietly leave next, then whatever you do, don’t stand below the Euro.

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