Report says Buba used public money to build villas

For decades the Bundesbank used public money to build luxury villas for some of its top officials, German business daily Handelsblatt reported.

The newspaper quoted two former presidents of the German central bank, Karl Otto Poehl and Hans Tietmeyer, as confirming that the Bundesbank made available to them villas in prime locations at cut-price conditions.

Handelsblatt quoted the central bank as conceding that "in some cases" it "bought and built houses for presidents and vice-presidents where