Ethics adviser clears Bundesbank board

The Bundesbank received some good news on Tuesday 18 May as its ethics adviser, who was appointed after the hotel bill scandal that recently forced former president Ernst Welteke to quit, said he had found no evidence that other members of its board had accepted any unauthorised benefits.

Law professor Theodor Baums added that the board would in future follow strict rules closely resembling those laid down by the European Central Bank for its council members.