The war in Iraq may constitute "exceptional circumstances" leading to a relaxation of the Growth and Stability Pact, the Commissioner for Monetary Affairs, Pedro Solbes, said in an interview with French paper, Les Echos on Thursday. Solbes said that a war was "very clearly" a situation that could allow the budget deficit rules to be relaxed.
This will come as a relief to countries such as France and Germany, whose budget deficits are both above the 3 percent limit imposed by the Stabil...
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Already a member? Login hereLisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.
Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.