Economics
ECB’s Lautenschlaeger Resigns From Executive Board in Shock Move
- ECB gave no reason for Lautenschlaeger’s resignation
- German policy maker to step down on Oct. 31, Draghi’s last day
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European Central Bank board member Sabine Lautenschlaeger unexpectedly resigned more than two years before her term ends, a shock move in the wake of unprecedented dissent over President Mario Draghi’s latest stimulus drive.
While the ECB gave no reason for her departure, Lautenschlaeger had been one of the strongest opponents of the Governing Council’s decision this month to resume bond purchases along with an interest-rate cut to revive euro-area growth and inflation. She’ll step down from the six-person board on Oct. 31, also Draghi’s last day in office before he’s replaced by Christine Lagarde.