Almunia not expecting ECB objection to Pact change

EU economic and monetary affairs commissioner Joaquin Almunia has said the European Central Bank is not expected to oppose possible changes to the stability and growth pact.

When asked by reporters at a diplomatic event in Madrid whether the ECB could oppose reforms to the stability and growth pact, Almunia said: "No." "ECB president Jean-Claude Trichet knows that the goals of the Pact continue to be the same... and that possible reforms will be based on a wide consensus," he added.

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