04/05/2010 (Agence Europe) - In an interview to Le Monde newspaper published on 4 May, the French finance minister, Christine Lagarde, said that she would like to see the Stability and Growth Pact reviewed so that “more efficient action can be taken in the event of deficit or competitiveness problems”. The minister said that a prevention and early warning mechanism would enable divergences to be identified earlier on. She said that the rating agencies must “rethink the way in which codes of good conduct are operational”. She also asserted that reflection is taking place at the highest levels between France and Germany with regard to the subject of general economic governance. The idea of a European ratings agency has been making progress in Germany and Chancellor Angela Merkel has indicated that “more competition in this domain would not be harmful”. (A.B./transl.fl)