Sound budget policy essential for growth, says ECB member

(AGI) Athens, July 9 - Benoit Coeure, a French member of theExecutive Board of the European Central Bank, said that a soundbudgeting policy is essential for the Eurozone to be free fromdebts and existing budget laws should be enforced in a flexiblebut credible manner. Coeure added: "New growth won't begenerated by further debts. On the contrary, a sound budgetarypolicy is essential to exit the debit crunch. Hence, theexisting laws should be enforced and not extended so as not tolose credibility." . .