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Welteke resigns from Bundesbank

Bundesbank president Ernst Welteke resigned Friday after coming under heavy criticism for taking a free hotel stay from a commercial bank. He said in a statement "the disregard for the legally guaranteed independence of the Bundesbank and its institutions goes on" and that the bank's leadership had been "put under pressure in an irresponsible way."

Read the Statement by the Executive Board of the Deutsche Bundesbank, 16 April

The Bundesbank's executive council said in a statement that Welteke

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