German bank hits at fiscal pact plan

Author (Person)
Series Title
Series Details 8.9.04
Publication Date 08/09/2004
Content Type

Germany's central bank, the Bundesbank, issued a statement on 7 September 2004 saying that European Union attempts to restore credibility to the Stability and Growth Pact (the EU's fiscal rules) were 'generally detrimental' and sent 'a false signal'. The intervention is a blow for the Commission.
Related Links
European Commission: Press Release: IP/04/1062 http://europa.eu/rapid/pressReleasesAction.do?reference=IP/04/1062&format=HTML&aged=0&language=EN&guiLanguage=en
Bundesbank: Press Release: Do not weaken the Stability and Growth Pact, 7.9.04 http://www.bundesbank.de/download/presse/pressenotizen/2004/20040907bbk1_en.pdf
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