ECB Press Conference with Questions and Answers

At the ECB's post Governing Council meeting press conference in Lisbon on Thursday 2 October Wim Duisenberg said "There is growing evidence that most countries will miss their budgetary targets for 2003 by a significant margin and, in a number of cases, budgetary plans for 2004 are not reassuring." He acknowledged that lower than expected growth was partly to blame. But added: "It is worrying to see that not all countries with severe imbalances have so far introduced sufficient consolidation

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