Brussels, 21/10/2002 (Agence Europe) - In a column published in the Le Monde newspaper on 22 October, the President of the Portuguese Republic, Jorge Sampaio declared that it was necessary to amend the Stability and Growth Pact. "I am now wandering if the time is not right to plan for a new pact", he writes in the pages of the French daily, emphasising that "some economists believe that a possible means of reform would consist of calculating budgetary surplus separately from public spending, a zero current balance in the medium term, which would allow public investment plans to be carried through that are more adapted to the realities of each country". Mr Sampaio acknowledges that this exercise would be difficult, insofar as greater flexibility would have to take into account "the common commitment, absolutely crucial in budgetary discipline". He adds that in the face of economic difficulties resulting from the inadequate model of budgetary discipline, conceived during a period of economic growth, the EU could take stock of policies carried out in the US after 11 September 2001. Mr Sampaio explained that they (the USA) were able to, with a pragmatism that is to be welcomed, adopt consistent macro-economic policies in which they did not hesitate to peg down the main balances, such as the budgetary balance and the current trade deficit to objectives they regarded as more important: economic growth and jobs. Placing himself on a clear political terrain, the Portuguese President also considers that this should involve avoiding a pact that became antagonistic to the national authorities and Community bodies and which should not put in danger the basis of the legitimacy of European construction and the functioning of their democratic systems.