BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble said on
Wednesday that Bundesbank board member Thilo Sarrazin had violated
Bundesbank rules with his disputed remarks on immigration.
Yet, Schaeuble stressed that the Bundesbank was autonomous. “I’ll
wait and see what the Bundesbank will decide today,” he said, adding
that he had discussed the matter with Bundesbank president Axel Weber.
The Bundesbank has said that it will hold talks with Sarrazin today
to decide on a possible response to the uproar surrounding his recent
remarks on immigration. Already on Monday, the central bank
unequivocally condemned Sarrazin for remarks interpreted by many as
insulting to various minority groups.
The central bank’s executive board cannot unilaterally remove a
board member, but could theoretically ask Germany’s federal president to
remove the member from his position.
Last October, Sarrazin lost his responsibilities for cash
circulation supervision in the Bundesbank. The demotion came after
Sarrazin had made remarks critical of Turkish migrants in Germany, which
were widely viewed as offensive.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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