EU rules limit debt to 60 percent of GDP and deficits to 3 percent, but those rules turned out to lack teeth and several countries - including France and Germany - have broken them without being penalised.
The question now is how to give those rules more teeth.
Read more: EU struggles over ways to prevent new debt crisis - Story - World - 3 News
Could you tell me what do "lack teeth" and "teeth" in above sentences mean?
However, governments and companies may then decide to take action to prevent another crisis. Flagging potential bubbles early on - before they end in a catastrophic bust - may be useful, "even if there's no real enforcement," says Marzinotto."
Is the underlined part closet in meaning to lack teeth?