Advisor to UK chancellor says scrap Stability Pact

In a paper published Monday, Michael Artis, an economics professor who provided technical input for some of the 18 euro studies sent to the UK Cabinet this weekend, argues for wholesale reform of the single currency's institutions and calls for the controversial Stability and Growth Pact to be scrapped.

Source: The Times

Europe's controversial Stability and Growth Pact should be scrapped, the European Central Bank should become more transparent and the Continent must improve its wage flexibilit