In April, the European Commission released an updated proposal for reforming the Stability and Growth Pact that includes more rigid debt “safeguards.” But the changes defeat the entire purpose of devising a new framework for member states’ fiscal policies.
LONDON – Last November, the European Commission proposed a radical reform of the European Union’s Stability and Growth Pact. The debate that followed – and the updated proposal that the Commission released in April – revealed that, despite the progress the EU has made in designing common policies over the last few years, mistrust still prevails.
LONDON – Last November, the European Commission proposed a radical reform of the European Union’s Stability and Growth Pact. The debate that followed – and the updated proposal that the Commission released in April – revealed that, despite the progress the EU has made in designing common policies over the last few years, mistrust still prevails.