German architect of Euro currency dies aged 85

Former Bundesbank president Hans Tietmeyer, a key architect of the euro who oversaw its introduction in Germany, has died at the age of 85, the central bank announced Wednesday.

German architect of Euro currency dies aged 85
Hans Tietmeyer. Photo: DPA

Tietmeyer ran the mighty Bundesbank from 1993 to 1999, a period that straddled the aftermath of German reunification as well as the launch of the single European currency and the creation of the European Central Bank.

“Hans Tietmeyer was an outstanding president, who always acted with the goal of monetary stability in mind,” current Bundesbank chief Jens Weidmann said in a statement.

“Our thoughts and sympathies go out to his family.”

Tietmeyer died on Tuesday, the statement added, without giving further details.

A fierce defender of the independence of central banks, Tietmeyer was credited with ensuring that the same principle was enshrined in the statutes of the ECB, which was modelled in large part on the Bundesbank and is likewise based in Frankfurt.

Before joining the Bundesbank, Tietmeyer was a junior finance minister and served as an advisor to former chancellor Helmut Kohl.

Seen as one of the architects of the European monetary union, the influential Tietmeyer was known for speaking his mind and cautioned early on of the pitfalls of the single currency.

He notably warned that some member states had to show greater budgetary discipline if trouble was to be avoided down the road – comments that would prove prescient during the eurozone debt crisis.

But Tietmeyer also credited the euro with shielding member states from foreign exchange turmoil at the height of the global financial crisis.

“We would probably have had a series of currency crises” that could have hammered some countries had they kept their national monies, Tietmeyer told AFP in late 2008.

“As a result, the single currency has without doubt benefited the people and the economy of Europe,” he said.

European Commission chief Jean-Claude Juncker said he was “deeply saddened” by Tietmeyer's death.

“Europe, the euro and I personally lose an important companion,” he said.

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‘I’m fine — under the circumstances’: Collapsed Danish striker tweets from hospital

Christian Eriksen, the Danish football player who collapsed on the pitch in his country's opening Euro 2020 game, said that he was doing "fine" in an Instagram post from hospital on Tuesday.

'I’m fine — under the circumstances': Collapsed Danish striker tweets from hospital
Danish striker Christian Eriksen tweeted a picture of himself in hospital. Photo: DBU

“I’m fine — under the circumstances, I still have to go through some examinations at the hospital, but I feel okay,” he wrote in a post accompanying a photo of him smiling and giving a thumbs-up while lying in bed.

In a scene that shocked the sporting world and beyond, the 29-year-old Inter Milan midfielder suddenly collapsed on the field in the 43rd minute of Denmark’s Group B game on Saturday against Finland in Copenhagen.


Medical personnel administered CPR as he lay motionless on the field for about 15 minutes before being carried off the pitch and rushed to hospital. He was later confirmed to have suffered cardiac arrest.

“Big thanks for your sweet and amazing greetings and messages from all around the world. It means a lot to me and my family,” he wrote in Tuesday’s post. “Now, I will cheer on the boys on the Denmark team in the next matches. Play for all of Denmark.”