Prodi warns Europe over devaluation

European Commission's president, Romano Prodi, warned Tuesday that it would be a "tragedy" if Europe responded to the plummeting dollar with devaluation. He also renewed his criticism of the stability and growth pact saying it did nothing to promote growth.

Speaking at a euro conference, Mr Prodi rebuked the growing number of calls from Paris, Berlin, and Rome for aggressive action to counter America's "weak dollar" strategy.

"In the current situation, with the crises in Asia, Enron and Parmalat

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