Stark warning for eurozone's future
Yesterday's shock resignation of ECB chief economist Jurgen Stark demonstrates just how divided the organisation is as the single currency faces the most serious crisis in its 13-year history.
With yields on the government bonds of peripheral eurozone countries once again rising to dangerous levels, the timing of Mr Stark's departure was unfortunate to say the least.
Mr Stark's resignation finally brings out into the open what many had long suspected. As the eurozone crisis has dragged on with no resolution seemingly in sight, an ever-widening gap has opened up between the eurozone's Germanic core and the peripheral countries, including Ireland.