07/03/2005 (Agence Europe) - The Party of European Socialists is in favour of a flexible approach to the Stability and Growth Pact, notably in an effort to promote public investment in “hard times”, asserted PES president Poul Nyrup Rasmussen MEP. The former Danish prime minister said in a press release that the current rules were strangling possibilities for investing in countries like Germany at a time when the country and Europe needed it most. Rasmussen stated that they did not question the 3% ceiling for the deficit, “Germany is the biggest economy in the EU and the main contributor to the EU budget. If we do not allow for a certain room for manoeuvre…, the European economy will suffer”. He concluded that they should not be asking what Germany can do for Europe but what Europe can do for Europe.