ECB on Court of Justice decision on Pact

The European Central Bank (ECB) said in a statement released Tuesday 13 July that it takes note of the judgement by the Court of Justice on the Council's actions of 25 November 2003.

It notes with satisfaction that the judgement confirms that the rules and procedures foreseen in the Treaty and in the Stability and Growth Pact need to be fully applied.

As for the implications of the ruling, the ECB expects that the institutions concerned will undertake the necessary steps in order to ensure the

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