Juergen Stark is to quit his position on the European Central Bank's Executive Board, the bank said on Friday.

Today, Juergen Stark, Member of the Executive Board and Governing Council of the European Central Bank (ECB), informed President Jean-Claude Trichet that, for personal reasons, he will resign from his position, the ECB said in a statement.

Mr Stark will stay on in his current position until a successor is appointed, which, according to the appointment procedure, will be by the end of this year.

The statement from the bank confirmed an earlier Reuters report from euro zone sources, who cited Stark's fierce opposition to the ECB's decision to restart it purchases of government bonds, as the reason for his decision.

(Reporting by Marc Jones)