ECB chief opposes new EU budget rules (AP)

European Central Bank President Jean Claude Trichet gestures during a round table meeting of eurogroup finance ministers at the Kiem Center in Luxembourg on Monday, Oct. 18, 2010. European finance ministers  plan to hash out a deal on stricter budget rules to avoid another government debt crisis, as a surging euro casts doubt on the continent's fragile economic recovery. (AP Photo/Virginia Mayo)AP – The European Central Bank’s chief does not support all the proposed new eurozone budget rules that leave penalties for overspending nations up to EU governments, who in the past have shown themselves unwilling to impose any.