News
The article is more than 16 years old

Liikanen: Stricter Control of EU Stability Pact

The Governor of the Bank of Finland, Erkki Liikanen, has called for stricter control over keeping to the EU Stability and Growth Pact.

He said that after the deal had been diluted, it was all the more important that its rules should apply equally to all EU members. It was essential to maintain and abide by the rules so that its inherent discipline could be maintained, the Governor added.

Liikanen noted that primary responsibility for fair and balanced adherence to the pact lay with the EU Commission.

Liikanen stated that the pact governing budget deficit levels had benefited both the EU and Finland. His comments came as EU finance ministers held their summit meeting in Brussels.

Liikanen, formerly European Commissioner for Enterprise and the Information Society, began a seven-year term as Governor last summer.

Finnish News Agency, YLE24