ECB statement on ECOFIN budget conclusions

Statement of the European Central Bank Governing Council on the ECOFIN Council conclusions regarding the correction of excessive deficits in France and Germany, 25 November. The ECB's press release warns: "The Conclusions adopted by the ECOFIN Council carry serious dangers."

Source: ECB

In its previous meeting, the Governing Council took the view that the recommendations of the European Commission for the next steps in the excessive deficit procedure pushed the room for the interpretation of th