stability pact


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stability pact

or

stability and growth pact

n
(Government, Politics & Diplomacy) an agreement between the member states of the EU which have joined the single currency, the aim of which is to secure the currency's stability by imposing fines on member states whose budget deficits exceed 3 per cent of their gross domestic product
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
References in periodicals archive ?
She added: "The terms of the growth and stability pact have to be respected.
Before the decision, European Parliament president Pat Cox said the EC should take the 'fragile state' of the French and German economies into account -as finance ministers did -when assessing compliance with the so-called stability pact.
The proportion of those sceptical towards the euro increased by 11 percentage points from a similar survey one month ago, and this has been attributed to concern about the viability of the European Union's Growth and Stability Pact for eurozone countries.
"Will the European stability pact hold up as a few of the union's members continue to violate its mandate?
Ms Harney said Ireland had a low debt ratio and there was a need for flexibility in the operation of the Growth and Stability Pact to allow it to borrow to finance the development of infrastructure.
Shortly thereafter, on November 18, 1999, the Stability Pact for Southeastern Europe endorsed a declaration of 10 regional states to destroy seized and surplus weapons.
Nancy Kontou, member of the Cabinet Commissioner for Enlargement, and Ed Kronenburg, deputy special coordinator for the office of the Stability Pact of SE Europe, brief symposium attendees on plan to bring new member states into the EU.
The central features of the Stability Pact provisions regarding the decision procedures, the timing and the size of sanctions are examined in the next section (Section II) of this paper.
"Many of the ideas adopted in Brussels coincide with the proposals of Finance Minister Simeon Djankov, enshrined in the so-called Financial Stability Pact. We have held talks on these issues and these will continue in the coming weeks," Boyko Borisov told reporters in Brussels at the end of the European Council summit.
The author explains that strengthening the stability pact may stifle growth and jeopardise social policies.
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