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Articles: Bundesbank says Welteke has resigned
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Posted by admin on Friday, April 16, 2004 - 08:05 AM
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International NewsFRANKFURT, April 16 (Reuters) - Bundesbank President Ernst Welteke has resigned following criticism about letting a commercial bank pay a luxury hotel bill for him and his family, the German central bank said on Friday.
The Bundesbank said Welteke had submitted his letter of resignation to the Bundesbank board. "The board regards this step as appropriate in view of the institution's reputation and its tasks," the board said. Welteke had taken a temporary leave of absence last week in the ethics row while state prosecutors examined whether he broke the law by letting Dresdner Bank, which he regulates, pay a 7,661 euro ($9,437) bill for a four-day hotel stay.
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