Duisenberg sees danger EU stability pact will fail

Wim Duisenberg, whose term as president of the ECB finished on Friday, said in a TV interview that "The danger is certainly there" that the EU's stability and growth pact could fail. He warned that should this happen it would be a disaster for Europe.

Source: ChannelNewsAsia

The outgoing president of the European Central Bank, Wim Duisenberg, said in a television interview there was a risk that the European Stability and Growth Pact, a key set of budget rules underpinning the euro, could fail.