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Europe Daily Bulletin No. 8570

23 October 2003
THE DAY IN POLITICS / (eu) eu/ep/stability pact
Stability Pact still makes sense but 3% threshold should not necessarily be unquestionable, Silvio Berlusconi says

Strasbourg, 22/10/2003 (Agence Europe) - The Stability Pact still makes sense, Silvio Berlusconi said in answer to a question during his press conference on Wednesday in Strasbourg. Some affirmed that the 3% threshold for the public deficit should not be "unquestionable" and that one should be able to envisage 2% or even 1.5% in periods of expansion and a threshold up to 4% in phases of stagnation and recession. Countries of the euro zone no longer have the possibility to devaluate their...

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