The fiscal pact should not be renegotiated, European Central Bank Executive Board member Joerg Asmussen said Monday. The fiscal pact should be complemented by growth compact.
"We need both," he said in a speech in Berlin.
Further, he said unconventional measures initiated to combat debt crisis are temporary in nature. Such measures could be withdrawn when upside risks for price stability appear, he added.
Asmussen said Europe should urgently activate permanent bailout fund or European Stability Mechanism by July this year.
by RTT Staff Writer
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