Issing - Stability pact talk extremely detrimental

GERMANY - The debate on modifying the EU's stability pact is "extremely detrimental," said European Central Bank chief economist Otmar Issing in an interview with German weekly magazine WirtschaftsWoche.

"When the countries -- as laid out in the stability pact -- achieve a balanced budget or even a surplus at a time of economic prosperity, this gives them enough playing field to completely and successfully compensate during a downturn," said Issing.

Euro zone members are required to balance the