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BREAKING NEWS
TREASURY DECLINES TO NAME CHINA A CURRENCY MANIPULATOR

Weber Says Sarrazin Breached `Bond of Trust' With Bundesbank, Spiegel Says

Bundesbank President Axel Weber said the “necessary bond of trust” between the central bank and board member Thilo Sarrazin has been breached, Spiegel magazine reported.

The Frankfurt-based central bank sees “no other solution” but to ask for the dismissal of Sarrazin, Spiegel said, citing a joint letter by Weber and Vice President Franz-Christoph Zeitler to German President Christian Wulff.

Sarrazin sparked public and political outrage when he told the Welt am Sonntag newspaper in an interview published Aug. 29 that Jews have “a particular gene” and that Muslims have more problems assimilating in Europe than other immigrants. In his book published this week, Sarrazin argues that poorly educated immigrants are making Germany “dumber.”

The Bundesbank compiled a document of about 20 pages, which lists all interview comments of Sarrazin that violated the Bundesbank’s code of conduct, Spiegel said.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net.

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