Harney, Cox say hands off Pact rebels

ENTERPRISE Minister Mary Harney and European Parliament President Pat Cox both indicated Europe should not move against France and Germany if they continue to breach the eurozone’s Growth and Stability Pact.

Finance Minister Charlie McCreevey has been making similar suggestions in the lead-up to his taking over the chair of the EU's Ecofin Council from January.

Ms Harney, who will chair the prestigious Competitiveness Council, emphasised the need to reinterpret the Pact in a way that will not hinder growth. She agreed with the German Finance Minister, Hans Eichel, who said the Pact should not be interpreted in a mechanistic way.