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To: yard_man who wrote (170685)	6/6/2002 12:14:29 PM
From: Haim R. Branisteanu	Respond to of 436258

ECB Q&A -4: France Expected To Stick To Stability Pact Duisenberg added that the 2% price stability goal "is an ambitious target, but not impossible (to reach)." In fact, the ECB sees inflation on target in 2003. "The expectation is that next year it will be very close to the 2% limit," he said. Asked about recent national attempts to weaken the euro-zone's Stability and Growth Pact, Duisenberg said he expects France to stick to the rules of the pact. "I have reasons to believe - I might say from the highest sources - that there is no doubt that France as a full member of the euro area and the European Union will live up to its commitments" agreed to in the Stability and Growth Pact, he said. Earlier Thursday, French Finance Minister Francis Mer said in a radio interview the pact "isn't written in stone" and parts of it can be changed so long as it's by common accord. Under the terms of the pact, euro-zone countries have committed themselves to limiting budget deficits to 3% of gross domestic product and balancing public budgets by 2003-2004. ECB Web site: ecb.int -By Klaus Brune, Dow Jones Newswires; +49 69 29 725 500; klaus.brune@dowjones.com