Jurgen Stark on ECOFIN Council decision

In a statement following the ECOFIN Council's decision on the stability and growth pact, Bundesbank Vice President Jurgen Stark said the "decision of the ECOFIN Council threatens to break the political consensus of the Maastricht Treaty, which is also reflected in the spirit of the Stability Pact, namely that sound public finances and strict compliance with the budgetary rules are a core element of economic and monetary union".

Statement by Dr Jurgen Stark, Vice President of the Deutsche Bunde