The EU framework for fiscal policies

01-01-2018

In order to ensure the stability of the Economic and Monetary Union, a robust framework is needed to prevent unsustainable public finances as far as possible. A reform (part of the so-called ‘Six-Pack’) amending the Stability and Growth Pact entered into force at the end of 2011. Another reform in this policy area, the intergovernmental Treaty on Stability, Coordination and Governance, including the Fiscal Compact, entered into force in early 2013. Furthermore, a regulation on assessing national draft budgetary plans (part of the so-called ‘Two-Pack’) entered into force in May 2013.

In order to ensure the stability of the Economic and Monetary Union, a robust framework is needed to prevent unsustainable public finances as far as possible. A reform (part of the so-called ‘Six-Pack’) amending the Stability and Growth Pact entered into force at the end of 2011. Another reform in this policy area, the intergovernmental Treaty on Stability, Coordination and Governance, including the Fiscal Compact, entered into force in early 2013. Furthermore, a regulation on assessing national draft budgetary plans (part of the so-called ‘Two-Pack’) entered into force in May 2013.