Weidmann slams Europe's stability pact relaxation
The president of the Deutsche Bundesbank, Jens Weidmann, last week told an audience in Hamburg, Germany, that the European Commission's deadline extensions for Spain, France, Slovenia and Cyprus under the European Union's (EU) Stability and Growth Pact will result in "a weakening of the structural consolidation requirements and corrective action being pushed into the future".
He said that there are two possible paths to a more stable monetary union: deeper political integration; or enhancing the
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