Don't use stability pact as scapegoat, says Issing

GERMANY - The chief economist of the European Central Bank launched a staunch defence of the euro area fiscal stability and growth pact on Monday, accusing politicians of using it as a "scapegoat" for their own failures.

The pact, which requires euro zone governments to bring budgets into balance by placing limits on deficits, has come under scrutiny in recent weeks after European Commission President Romano Prodi called it "stupid" and inflexible, Reuters reported.

ECB chief economist Otmar

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.