EU's Prodi calls deficit reduction accord 'stupid'

FRANCE - European Commission President Romano Prodi called Europe's budget-deficit limits "stupid" and "rigid," sowing fresh divisions over how to save the European economy from recession.

Prodi said the stability accord, designed by Germany to create confidence in the euro, needs to be applied more loosely to help the 12-nation economy recover from growth estimated at less than 1 percent in 2002, the slowest pace since 1993, Bloomberg.

"I know very well that the stability pact is stupid, like