Germany, France Send Political Players to ECB Executive Board

Germany and France send two key government officials to fill positions at the European Central Bank today, setting off a struggle for the job of chief economist.

Joerg Asmussen and Benoit Coeure join the ECB’s six-member Executive Board as the sovereign debt crisis enters its third year, replacing Germany’s Juergen Stark and Italy’s Lorenzo Bini Smaghi, who both departed prematurely. Asmussen, 44, was Germany’s deputy finance minister, while Coeure, 42, served as the French Treasury’s No. 2 official.