BRUSSELS (MNI) – European Central Bank President Jean-Claude
Trichet has refused to back a deal to strengthen economic governance in
the European Union and the Eurozone, according to an EU document that
outlines the new rules agreed on.
The full report of a deal to beef up EU rules on debt and deficits
thrashed out late Monday was published on Wednesday, along with the
names of those finance ministers and other officials who signed up to
the report’s contents.
“The President of the ECB does not subscribe to all elements of
this report,” a note at the foot of one of the report’s pages said.
The report didn’t say what Trichet’s specific concerns were, or why
he had refused to endorse the report.
Several ECB officials including Vice President Vitor Constancio and
Executive Board member Jurgen Stark have already openly criticised the
report, which they said should have gone further and forced countries to
apply the budget rules more strongly.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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