Time has come for stability pact overhaul, declare policy pundits

THE Stability and Growth Pact may have lost pretty much all credibility since eurozone finance ministers refused last month to sanction France and Germany for blatantly ignoring it, but that’s no reason for scrapping EU budgetary rules, argue many of Europe’s leading think-tanks.

Instead, say the policy analysts, the pact needs to be taken to bits and rebuilt from scratch – and this time governments should do the job properly.

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