Ireland
Taoiseach: Rethink stability pact
Saturday, 24 January 2004 17:51
The Taoiseach Bertie Ahern has told the World Economic Forum in Davos that it is time for a period of reflection on the rules of the stability and growth pact which govern government borrowing and on how these rules operate to support growth and prosperity.
He said Europe's economic performance has been disappointing and that the gulf between the EU's ambition to be the most competitive and dynamic economy in the world and the reality of the situation was still very wide.
The President of the European Central Bank Jean-Claude Trichet told the forum that the ECB fully backs Ireland's decision to put European competitiveness at the heart of our presidency of the European Union.
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