EU Pressured to Toughen Rules on Public Finances

(10 Feb 10 - RV) The fiscal splintering of the euro zone has increased pressure on the bloc to toughen its rules on public finances, and economists say a failure to make changes could expose it to more speculative attacks in the months and years to come.
Single currency members Greece, Portugal and Spain are under acute pressure because of their swollen deficits, a situation economists say has highlighted the need for new measures to strengthen or even replace the Stability and Growth Pact.
Joseph Englehardt is a senior vice president at Capital Alpha, a Washington based economic analysis firm. He told us more about the pressure deficits place on the global economy.