German Finance Minister Hans Eichel Fails to Back Deutsche Bundesbank President Ernst Welteke

German Finance Minister Hans Eichel declined to offer any clear support to Deutsche Bundesbank President Ernst Welteke, who is facing criticism over a controversy surrounding a hotel stay in 2001-02. The issue arose when Der Spiegel magazine reported that Welteke accepted an invitation from Dresdner Bank to stay at the Adlon Hotel in Berlin, with the bank paying his hotel bill of EUR7,661. Welteke had initially claimed that the bank would split the bill, but later backtracked on this statement. The conservative opposition has called for Welteke's resignation, and Eichel's lack of clear support could put further pressure on the embattled president.

Key Takeaways:

German Finance Minister Hans Eichel declined to offer clear support to Deutsche Bundesbank President Ernst Welteke in the face of criticism over a hotel stay controversy.
The controversy centers around a 2001-02 New Year's stay in Berlin's Adlon Hotel, paid for by Dresdner Bank, with a bill totaling EUR7,661.
Welteke initially claimed the bank would split the bill, but later backtracked on this statement.
Welteke is a member of Chancellor Gerhard Schroeder's Social Democratic Party, and the conservative opposition has called for his resignation.
Eichel stated that the Bundesbank would be responsible for deciding on the consequences of the issue, not the government.

Statistics:

EUR7,661: the amount Dresdner Bank paid for Welteke's hotel bill.
2001-02: the period during which Welteke stayed at the Adlon Hotel in Berlin.
4 nights: the duration of Welteke's stay at the Adlon Hotel.

Sources:

(Dow Jones)--German Finance Minister Hans Eichel Monday failed to offer any clear support to beleaguered Deutsche Bundesbank President Ernst Welteke.
(Der Spiegel)--Welteke accepted an invitation by Dresdner Bank to stay for four nights in Berlin's Adlon Hotel over the 2001-02 New Year holiday.
(COMTEX)--News Provided by COMTEX (http://www.comtexnews.com).