Trichet rules out 'corrective arm' on pact

In a speech on Tuesday 12 October, ECB president Jean-Claude Trichet, addressing a conference on the euro, voiced renewed opposition to any moves that might make it easier for eurozone members to breach their 1997 Stability and Growth Pact.

Click here to read the speech "EMU and the euro: successes and challenges" on the ECB's web site

He said the ECB could find "common ground" with the European Union executive commission on reforms to strengthen the capacity of the pact to prevent breaches of its

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