Buba's Stark sceptical on budget pledge

The Bundesbank believes the German public deficit, set to exceed EU limits for the third year in a row this year, will again be higher than the European Stability and Growth Pact allows next year, the financial daily Boersen-Zeitung reported.

The newspaper said that the German central bank's deputy president, Juergen Stark, had expressed scepticism at a CDU party event that the government would be able to meet its pledge to bring the deficit back within EU limits in 2005.

Stark expected the def