Financial decisions spark concerns

BUSINESS reaction to major financial decisions which were taken by EU leaders at their summit in Brussels varied from caution to deep concern.

Over a seven-hour meeting, leaders hammered out changes to the Stability and Growth Pact that govern the eurozone, a new jobs and growth plan for the union and a revision of the strategically important Services Directive.

Taoiseach Bertie Ahern welcomed the new strategy that prioritises economic development on the basis that the benefits will trickle into better environment and social development.