ECB's Issing: Rule breaking undermines euro

Otmar Issing, the ECB's chief economist, has said in an interview the stability and growth pact is an important institutional part of monetary union and it is a major concern if it is put into doubt. Asked whether the ECB could respond to the governments' failure to abide by the EU's budget rules by threatening to raise interest rates, Issing said the guardian of the euro would not become involved in "tit-for-tat".

Source: AFP

The European Central Bank's chief economist Otmar Issing has warned

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