First published on
22 February 2017

The Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG) was formally concluded on 2 March 2012, and entered into force on 1 January 2013. The main provision of this Treaty is the requirement to have a balanced budget rule in domestic legal orders (the Fiscal Compact).  Out of the 25 Contracting Parties to the TSCG, 22 are formally bound by the Fiscal Compact (the 19 euro area Member States plus Bulgaria, Denmark and Romania). The Treaty invited the Commission to report on the measures adopted by these Contracting Parties in that regard (Article 8 TSCG). After extensive exchanges with the Contracting Parties, these documents present the conclusions from that analysis.  

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