The designated president of the Bundesbank Axel Weber said on Wednesday he saw the EU Stability Pact as an important pillar of the European Union system and urgently warned against doing anything to damage it. "I believe as always that the European stability pact is an important pillar of the European currency system and I think people have to consider very carefully whether they want to continually damage this growth and stability pact," he said. "I would urgently warn against that." Weber also said he believes he has the right background to help shape European Central Bank policy. He also declined comment on foreign exchange rate levels. Weber said monetary policy should be based on many variables, not just money supply or inflation. The government named Weber, a senior academic, to replace Ernst Welteke, who quit last Friday in a storm of criticism for allowing a commercial bank pay a luxury hotel bill for him and his family.///