Economy

Demeter

(85,373 posts)

38. German president resigns amid loan probe

Fri Feb 17, 2012, 09:23 AM

Feb 2012

http://www.marketwatch.com/story/german-president-resigns-amid-loan-probe-2012-02-17?siteid=YAHOOB

Wulff second to be forced out of ceremonial post in two years...Chancellor Angela Merkel faced political embarrassment Friday as her hand-picked choice for the largely ceremonial post of German president resigned amid an investigation that grew out of allegations surrounding an improper home loan.

Christian Wulff, 52, announced his resignation a day after prosecutors asked Germany’s parliament to lift his immunity. Merkel canceled a trip to Italy in which she planned to visit Mario Monti, the country’s premier.

Flanked by his wife Bettina as he delivered a brief, televised statement, Wulff said he had made mistakes but had acted lawfully. Wulff said events made it impossible for him to carry out his duties.

Later, Merkel announced that she had accepted Wulff’s resignation “with regret.”

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