Bundesbank chief gives backing to EU growth pact

GERMANY - Bundesbank president Ernst Welteke, who sits on the ECB's interest rate setting council, throws his support behind the stability and growth pact which was labelled "stupid" by Romano Prodi recently. "The increasingly open attacks on the pact...must be rejected," he said.

Ernst Welteke, the president of Germany's Bundesbank, launched a passionate defence of Europe's controversial stability and growth pact at the weekend, insisting that the "increasingly open attacks" on the agreement

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