October 2011

CEP Analysis: Is it possible to rescue the Euro by a reformed Stability and Growth Pact?

On 23 October 2011, the Heads of State and Government adopted a Decision according to which the reformed Stability and Growth Pact “will allow a much higher degree of surveillance and coordination“. Moreover, it was stressed that, in future, the Pact would be “fully and effectively applied“.

CEP Says:

The reform of the Stability and Growth Pact is carried out half-heartedly. It reflects that Member States are not willing to avoid debt financed expenses in future, or to really reduce their debts. Hence, the Stability and Growth Pact will not prove more worthy of its name neither in its reformed version.

CEP Documents