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MacShane riles the mandarins - again

By Manneken Pis   January 2004

Who killed the pact? The death of the stability pact was predictable. But the identity of the assassin was a surprise. It was not France – which had never really been in favour of the pact – that wielded the dagger. Instead it was Germany, the creator of this fiendish instrument of fiscal torture. The European commission was taken by surprise by the militancy with which the Germans reacted to the commission’s proposals to enforce the pact. After all, the commission had not mooted the dreaded fines of up to 0.5 per cent of GDP. All it was suggesting was…

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