Austrian c bank - ECB not relaxing stability pact

AUSTRIA - Austrian central bank Governor Klaus Liebscher Friday said the European Central Bank's stance on the euro-zone's Stability and Growth Pact won't be relaxed.

This follows a report citing ECB officials saying the ECB may relax its position on budget deficits.

"There has been no change in policy in the ECB," Liebscher said in front of journalists.

Liebscher welcomed that Austria has already reached a balanced budget in 2001, one year ahead of plan, but warned that if the balanced budget c