European Commission President, Romano Prodi appeared to be suffering from a severe case of foot in mouth disease last week, prompting the EC into damage limitation mode, but alas too late.
Speaking to Le Monde, Mr Prodi observed that: 'I know very well that the stability pact is stupid, as are all decisions that are rigid'. He added, for good measure: 'It is clear that nobody has authority - that is the problem.'
According to EC Spokesman, Jonathon Faull, what the Commission President meant to say, was that: 'a rigid implementation of the pact would be stupid'.
However, the damage to the Stability and Growth Pact's credibility had already been done, and Mr Prodi's remarks were seized upon by France, which last week announced that it would not be bringing its budget into balance until 2007, in order to accommodate pre-election tax cut pledges.
'The president of the Commission himself declares that the stability and growth pact may need to show a bit more flexibility and a little more simplicity,' the Financial Times quoted French Finance Minister, Francis Mer as observing gleefully on Thursday.
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