Bundesbank president, Mr Hans Tietmeyer yesterday cancelled an appearance before the finance commission of the Bundestag (the lower house of parliament), a commission spokesman said.

The spokesman did not explain the reasons for the last minute cancellation.

Mr Tietmeyer had been due to give evidence on a controversial plan by Finance Minister, Mr Theo Waigel to revalue gold and currency reserves as part of efforts to ensure that Germany qualifies for the single currency.

The announcement came against a background of doubt over progress between Mr Waigel and Mr Tietmeyer in defusing their dispute.