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Image header Agence Europe
Europe Daily Bulletin No. 8298
Contents Publication in full By article 33 / 41
GENERAL NEWS / (eu) eu/emu

16/09/2002 (Agence Europe) - Commissioner Pascal Lamy pointed out on Saturday that he was in favour of a certain amount of flexibility in application of the Stability and Growth Pact. He said that, as he saw it, the world has changed and it will be necessary to reshuffle the Stability Pact in due course - once Great Britain enters the euro zone, if it decides one day to do so - but not because it is hard to implement. He was speaking on the French radio (Radio Classique). The Pact, especially rules on public deficit, represent in some respects a co-ownership regulation for joint owners of the euro, he said, considering it to be necessary to respect the limit of 3% in public deficit, given that there may be some flexibility here and there.

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