Jürgen Stark
Jürgen Stark | |
|---|---|
| Born | May 31, 1948 Gau-Odernheim, Germany |
| Occupation | Economist |
| Years active | 1978–2011 (economic policy career) |
| Known for | Member of the Executive Board of the European Central Bank (2006–2011), ECB chief economist |
Jürgen Stark (born 31 May 1948 in Gau-Odernheim, Germany) is a prominent German economist who was a member of the Executive Board of the European Central Bank from 2006 until 2011, simultaneously holding the position of ECB chief economist. He oversaw the departments of Economics and Monetary Analysis and chose to resign prior to the conclusion of his mandate due to his opposition to the ECB’s bond-purchasing initiative.
Early life and education
Raised in Rhineland-Palatinate within a family that operated a vineyard, Stark pursued studies in economics at both the University of Hohenheim and University of Tübingen between 1968 and 1973. During his university years, he was involved in protest movements but redirected his focus following graduation. He completed his doctoral degree in 1975.
Career
Stark’s career in economic policy began with various roles in the German Federal Government from 1978 through 1998. Subsequently, from September 1998 until May 2006, he served as Vice President of the Bundesbank for two consecutive terms, including a brief period as acting President in 2004.
In September 2011, Stark declared his intention to leave the ECB, officially citing personal reasons but largely motivated by his disagreement with the institution’s contentious bond-buying policy. His term was originally scheduled to end in May 2014. He remained active in his role until a replacement was appointed later that year; Jörg Asmussen, then serving as Germany’s deputy finance minister, was selected as his successor. In December 2011, Stark voiced opposition to expanding the International Monetary Fund’s involvement in managing the European sovereign debt crisis, instead proposing the creation of an informal expert committee tasked with supervising national budgets as a step toward establishing a future European finance ministry.
Corporate boards
- Amundi, Member of the Global Advisory Board (since 2016)
Non-profit organizations
- Bertelsmann Stiftung, Board of Trustees member (since 2012)
- Free Democratic Party (FDP), participant in the Business Forum
- Friedrich August von Hayek Foundation, Trustee
- Ifo Institute for Economic Research, Deputy Chairman of the Board of Trustees
- Senckenberg Nature Research Society, Trustee
Personal life
Stark has been married to his wife Christine since 1973. They maintain a retirement residence on the Baltic Sea and are parents to two children. His involvement with Frankfurt’s Senckenberg natural history museum reflects a personal interest in palaeontology.
External links
- Biography of J. Stark at the ECB
- The Global Financial Crisis and the Role of Monetary Policy, speech delivered by J. Stark in September 2011
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