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To: Knighty Tin who wrote (12389)	9/28/2004 12:32:45 PM
From: mishedlo	Respond to of 116555

ECB´s Issing says low debt govts must not be given scope for bigger deficits Tuesday, September 28, 2004 3:07:36 PM ECB's Issing says low debt govts must not be given scope for bigger deficits BRUSSELS (AFX) - European Central Bank chief economist Otmar Issing said he is opposed to the European Commission's proposal to show leniency towards countries with high fiscal deficits if they also have low debt ratios. The proposal to give such low debt countries scope to run bigger deficits forms part of a package of reforms of the EU stability and growth pact put forward by the Commission. "The argument that if you have a low debt level you can have higher deficits is totally misleading," Issing told a conference.