Taoiseach wants changes to EU pact

The Taoiseach has told the World Economic Forum that the rules of the stability and growth pact, which controls government borrowing, need to be modified.

Bertie Ahern was addressing the forum in Switzerland as President of the European Union.

He told delegates that the European Union is lagging behind other world economies and must build on its new status as the world's biggest trading bloc.

Mr Ahern said the Stability and Growth pact contained sensible rules, but that all rules need to be updated from time to time.