Buba upbraids board member after racist remarks
The Bundesbank board on Tuesday stripped Thilo Sarrazin, one of its six members, of his responsibilities for cash management after a fortnight of controversy over racially disparaging remarks he made in an interview.
The loss of cash oversight, seen as a prestigious portfolio in Germany, leaves him with responsibility for the information technology and risk control departments.
The board said that its decision would safeguard public trust, and that it would look ahead to cooperating on difficult
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