The European Central Bank has waded into the ongoing debate on toughening up the EU's budgetary rules, saying a "quantum leap" is needed to ensure member state compliance in the future.
Speaking before MEPs in Brussels on Monday evening (21 June), the bank's president, Jean-Claude Trichet, said sanctions for overspending states need to become more automatic, and suggested an independent body be set to up monitor the process.
The budgetary issue has jumped to the top of the Europ...
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