So the german Stark resigns as of year end.
For him the germans want to send a certain Asmussen.
This guy was behind the policy of german banks like IKB, KfW and Landesbanken to buy ABS (asset backed securities) and CDS (credit default swaps) instruments. They subsequently got taken to the cleaners.
He was on the boards... He was member of the derivatives lobby org "True Sales International GmbH" that was promoting the ABS markets.
So if the markets tank due to this news, it's rational. This means a loss of discipline at the ECB and acceleration of money printing.
Fasten your seat belts!
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