German Deputy Finance Minister, Joerg Asmussen was appointed by euro-area finance ministers to replace Juergen Stark on the Executive Board of the European Central Bank.

The euro-area finance ministers' leader, Jean-Claude Juncker said in the name of the ministers after the meeting today in Luxemburg We decided to replace Juergen Stark with Joerg Asmussen as a member of the Executive Board. He added that We did that in a unanimous way.

Asmussen will fill the position after Stark resigned last month and the former Bundesbank president Axel Weber in February, after the German opposition to the European Central Bank program of buying bonds from Greece and Italy. Current Bundesbank President, Jens Weidmann also opposed to restarting the bond purchases in August.