ECB CHIEF ECONOMIST OPPOSES OVERHAUL OF GROWTH AND STABILITY PACT.

Chief economist of the European Central Bank (ECB), Otmar Issing, has defended the EU's Stability and Growth Pact "in its present form", despite a recent proposal from the European Commission to shake up the rules of the pact. The comments follow similar remarks made by ECB President Jean-Claude Trichet on September 22 in the European Parliament (see issue 2898). According to a report from Agence France Presse (AFP), Mr Issing said at a conference on the Euro on September 28 that he was opposed to relaxing the limit on government deficits at...