Author(s): Christine Frayne, Elizabeth Jaffee, and Stéphanie Riso – European Commission
This publication provides a non-technical overview of the Stability and Growth Pact, the rule-based framework for fiscal policy in the European Union. It is divided into two sections. The first section provides a historical look at the evolution of the SGP's framework, from the Pact's origins in the Maastricht Treaty to the most recent Two Pack reforms. It presents the changes that were made to the framework over the years and discusses the reasons for the reforms. The second section provides a description of the application of the SGP today, structured around the SGP's two arms, the preventive arm and the corrective arm.
|ISBN 978-92-79-29351-1 (online)|
|doi: 10.2765/49978 (online)|
Occasional Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and cover a wide spectrum of subjects. Views expressed in unofficial documents do not necessarily reflect the official views of the European Commission.