The European Commission recently proposed important changes to how the Stability and Growth Pact (SGP) is to be implemented. Now the Commission and ECOFIN (the committee of euro area finance ministers) are reviewing the proposals, as well as others put forward by member states. A decision is expected in the first half of 2005, but how the Pact will be revised remains uncertain.
The European Commission recently proposed important changes to how the Stability and Growth Pact (SGP) is to be implemented. Now the Commission and ECOFIN (the committee of euro area finance ministers) are reviewing the proposals, as well as others put forward by member states. A decision is expected in the first half of 2005, but how the Pact will be revised remains uncertain.