Central bankers say stability pact not dead

The EU's much maligned stability and growth pact is not dead despite a decision by finance ministers in November to suspend its rules, ECB and Bundesbank members said on Monday 16 February.

"The Stability and Growth Pact is in no way dead. The November 25 decision was an episode, an unfortunate episode," European Central Bank Executive Board Member Tommaso Padoa-Schioppa told a Friends of Europe conference on the EU's budget pact.

Bundesbank Executive Board Member Franz-Christoph Zeitler, speak