Bundesbank attacks Brussels' euro reform plans

Commission proposals to reform the rules underpinning the euro today received heavy criticism from Germany's Central Bank, the Bundesbank.

"The Bundesbank is of the opinion that the proposed changes will not strengthen but weaken the stability pact", said the Bank, referring to the euro rules.

The Bank expressed its concern that budgetary discipline would be undermined.

"[The plans] will reduce the incentive for euro zone countries to pursue solid budget policies and, at th...