AGL 40.01 Decreased By ▼ -0.20 (-0.5%)
AIRLINK 127.00 Decreased By ▼ -0.64 (-0.5%)
BOP 6.69 Increased By ▲ 0.02 (0.3%)
CNERGY 4.51 Increased By ▲ 0.06 (1.35%)
DCL 8.64 Decreased By ▼ -0.09 (-1.03%)
DFML 41.04 Decreased By ▼ -0.12 (-0.29%)
DGKC 85.61 Decreased By ▼ -0.50 (-0.58%)
FCCL 33.11 Increased By ▲ 0.55 (1.69%)
FFBL 66.10 Increased By ▲ 1.72 (2.67%)
FFL 11.55 Decreased By ▼ -0.06 (-0.52%)
HUBC 111.11 Decreased By ▼ -1.35 (-1.2%)
HUMNL 14.82 Increased By ▲ 0.01 (0.07%)
KEL 5.17 Increased By ▲ 0.13 (2.58%)
KOSM 7.66 Increased By ▲ 0.30 (4.08%)
MLCF 40.21 Decreased By ▼ -0.12 (-0.3%)
NBP 60.51 Decreased By ▼ -0.57 (-0.93%)
OGDC 194.10 Decreased By ▼ -0.08 (-0.04%)
PAEL 26.72 Decreased By ▼ -0.19 (-0.71%)
PIBTL 7.37 Increased By ▲ 0.09 (1.24%)
PPL 153.79 Increased By ▲ 1.11 (0.73%)
PRL 26.21 Decreased By ▼ -0.01 (-0.04%)
PTC 17.18 Increased By ▲ 1.04 (6.44%)
SEARL 85.60 Decreased By ▼ -0.10 (-0.12%)
TELE 7.57 Decreased By ▼ -0.10 (-1.3%)
TOMCL 34.39 Decreased By ▼ -2.08 (-5.7%)
TPLP 8.82 Increased By ▲ 0.03 (0.34%)
TREET 16.82 Decreased By ▼ -0.02 (-0.12%)
TRG 62.55 Decreased By ▼ -0.19 (-0.3%)
UNITY 27.29 Decreased By ▼ -0.91 (-3.23%)
WTL 1.30 Decreased By ▼ -0.04 (-2.99%)
BR100 10,112 Increased By 26 (0.26%)
BR30 31,188 Increased By 17.5 (0.06%)
KSE100 94,996 Increased By 232 (0.24%)
KSE30 29,481 Increased By 71 (0.24%)

Germany's political establishment voiced relief on Friday after the resignation of central banker Thilo Sarrazin, who has inflamed the country with outspoken comments on race and religion. Sarrazin said he would quit the Bundesbank's board from the end of September after his comments on Muslim immigrants and Jewish genes drew censure from Chancellor Angela Merkel on down and prompted the central bank to seek his dismissal.
His resignation, announced late on Thursday, means President Christian Wulff will no longer have to decide whether to approve the bank's request, an awkward choice that threatened to expose Merkel to a backlash from conservative voters. Wulff, nominated by Merkel's Christian Democrats (CDU), said through his spokesman he welcomed Sarrazin's decision and the "mutual solution that had been found with the Bundesbank". The sentiment was echoed by Merkel's spokesman Steffen Seibert.
Sarrazin, 65, has dominated headlines over the past fortnight for his trenchant criticism of Turkish and Arab immigrants, some of which he set out in a new best-selling book "Deutschland schafft sich ab" (Germany does away with itself). Newspaper Financial Times Deutschland wrote "Sarrazin does away with himself" - a play on the title of his book. "Sarrazin thus saves himself and Germany a demoralising legal battle over his sacking. Wulff will be spared a very tricky decision - whether or not to sign off on it," it wrote.
A phone-in for n-tv television showed 89 percent of calls took the view Sarrazin was wrong to quit. But reactions were more mixed on the streets of Frankfurt, home to the Bundesbank. "I think it's good that he resigned," said Juergen Rumbuchner in central Frankfurt. "I think he'd have been thrown out anyway, because he's in a position where he represents Germany abroad, and I think his theories are even less well understood there - and they're pretty controversial here anyway," he added.
Peter Mitzner added: "I think it's over the top. As far as I'm concerned what he's been saying is the truth." Sarrazin's centre-left Social Democrats (SPD) have begun proceedings to expel him, though the economist has said he aims to "go to his grave" a member of the party. Polls show the SPD has been hurt by the debate over whether to eject him. Sebastian Edathy, an SPD member of parliament's legal affairs committee, told Reuters it had been high time for Sarrazin to resign.
"If he made the decision because he saw the light, then the obvious next thing to do would be to leave the SPD," he said. Sarrazin, a former finance minister of the city of Berlin has long been outspoken, but recent claims that Jews shared a particular gene and Muslim immigrants were lowering the intelligence quotient of German society proved a tipping point.
"Was it a courageous and responsible step by Sarrazin? Yes. But at the same time this is a sad reflection on the culture of holding open debate in Germany," mass-selling daily Bild wrote.
Right-wing online forums have hailed Sarrazin as a champion of free speech who participants say is speaking painful truths. Advocates of improving immigrant integration say Sarrazin has made it harder to hold an objective debate on the matter by polarising opinion and obscuring the facts with disputed claims.

Copyright Reuters, 2010

Comments

Comments are closed.