Trichet says no need to change growth pact

In a speech on 'Economic reform in Europe' given on 26 January, Jean-Claude Trichet of the ECB said the ECB does not see any need for changes to the eurozone's rules on budget deficits, which he described as "appropriate".

Speaking to a gathering of top finance ministers, officials and business people in London on Monday, Trichet said the ECB "respects" the decision by the European Commission to launched legal action over the Stability and Growth Pact.

The move was made by Brussels to oppose a

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