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Germany Vows to Propose ECB Candidate as Stark Resigns

Germany will propose a candidate for the European Central Bank’s executive board after the resignation of Juergen Stark, Finance Minister Wolfgang Schaeuble said today.

“The policy of the European Central Bank, as in the past, will be set in all independence, which we honor and defend, to defend the stability of our common currency and I assume that Germany will present a proposal for the succession of Mr. Stark, which will safeguard this,” Schaeuble told reporters today in Marseille, France, where he is meeting Group of Seven finance officials.