Press release of the Executive Board of the Deutsche Bundesbank

The Executive Board of the Deutsche Bundesbank and board member Dr Thilo Sarrazin are mindful of their responsibility regarding the institution of the Deutsche Bundesbank. In view of the current public discussion, the parties concerned will terminate their working relationship by mutual consent at the end of the month. The Bundesbank’s Executive Board has withdrawn its application of 3 September 2010 for the dismissal of Dr Thilo Sarrazin and retracts the value judgments it made in its press release of 30 August 2010. Dr Sarrazin has tendered his resignation to the President of the Federal German Republic. The Bundesbank’s Executive Board would like to thank Dr Sarrazin for the work he has accomplished as a board member. Neither party will make any further public statements regarding this matter.