EU bank breaks pro-German tradition with new appointment

European Central Bank (ECB) chief Mario Draghi has appointed former Belgian national bank boss Peter Praet as his chief economist, a job coveted by both Paris and Berlin.

The post will be filled by a non-German for the first time in the bank's 13 year-old-history. It was previously filled by Juergen Stark, who resigned in September due to his opposition to the ECB's bond purchasing programme, which helped Italy and Spain lower borrowing costs.

Germany also failed to secure the ap...