ECB's Padoa-Schioppa sees no threat to growth pact

ECB board member Tommaso Padoa-Schioppa has said that despite the changes to the stability and growth pact, its long term credibility is not under threat. He said he did not share speculation the decision could spell the end for the Stability and Growth Pact but said it would not be quickly forgotten.

Source: Reuters

The long-term credibility of the European Union's growth pact is not under threat despite EU finance ministers bending its rules, ECB board member Tommaso Padoa-Schioppa was quoted

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