ECB's Papademos seeks Commission role on pact

The ECB's vice-president has said the weakest aspect of the Stability and Growth Pact is the arrangement for enforcing it, the Irish Times reported. 'It is essential that greater flexibility and pragmatism in the implementation of the Stability and Growth Pact must not lead to the relaxation of the rules, thereby undermining the pact's credibility,' he said.

Source: Irish Times

The power given to European Union leaders to enforce the rules of the EU budgetary deficits pact is like letting a

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