Welteke resigns over hotel stay

Ernst Welteke, the president of Germany’s central bank, has resigned following investigations into a hotel stay paid for by Dresdner Bank.

The row started after a news magazine reported that Mr Welteke and his family accepted a 7,600-euro ($9,200; £5,000) free stay in Berlin’s top Adlon Hotel.

Mr Welteke was at a celebration of the euro’s first year as a cash currency