Issing's testimony to the European Parliament

In testimony before the Committee on Economic and Monetary Affairs given on 20 January Otmar Issing of the ECB backed Brussels' legal action against EU capitals for shirking the EU's deficit rules.

Speaking in front of the European Parliament's economic and monetary affairs committee, European Central Bank chief economist Otmar Issing said "I fully understand the intentions of the Commission."

"I think the Commission's focus is strengthening the procedures within present regulations - and this has

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