Stability and Growth Pact

E158739

The Stability and Growth Pact is the European Union’s fiscal framework that sets budgetary rules and deficit limits for member states to support the stability of the euro.

All labels observed (1)

Label Occurrences
Stability and Growth Pact canonical 8

How this entity was disambiguated

Statements (48)

Predicate Object
instanceOf European Union fiscal framework
economic policy rule
treaty-based agreement
adoptedInYear 1997
aimsTo coordinate national fiscal policies
prevent excessive government deficits
support sustainable public finances
allows excessive deficit procedure
appliesTo European Union member states
euro area member states
basedOn Maastricht Treaty fiscal criteria
Treaty on the Functioning of the European Union
criticizedFor complexity of rules
pro-cyclical effects on fiscal policy
debtReferenceValue 60% of GDP
deficitLimit 3% of GDP
enteredIntoForceInYear 1998
generalEscapeClauseActivatedInYear 2020
generalEscapeClauseReason COVID-19 pandemic
geographicalScope European Union
hasComponent corrective arm
preventive arm
hasFlexibilityClause exceptional circumstances clause
investment clause
structural reform clause
hasPurpose to ensure fiscal discipline in the European Union
to support the stability of the euro
implementedBy European Commission
isLinkedTo European Union economic and monetary union
surface form: Economic and Monetary Union

euro area governance
language all official languages of the European Union
legalBasisArticle Article 121 TFEU
Article 126 TFEU
monitoredThrough European Semester
overseenBy Council of the European Union
providesFor sanctions for non-compliant euro area countries
reformedBy Six-Pack legislation
Treaty on Stability, Coordination and Governance
Two-Pack legislation
reformYear 2011
2013
requires submission of stability or convergence programmes
setsRuleOn government budget deficits
public debt levels
subjectOf reform debates in the European Union
temporarilySuspendedBy general escape clause
usesIndicator medium-term budgetary objective
structural budget balance

How these facts were elicited

Referenced by (8)

Full triples — surface form annotated when it differs from this entity's canonical label.

European Union economic and monetary union hasComponent Stability and Growth Pact
EMU fiscalRulesFramework Stability and Growth Pact
subject surface form: Economic and Monetary Union of the European Union
excessive deficit procedure basedOn Stability and Growth Pact
Macroeconomic Imbalance Procedure coexistsWith Stability and Growth Pact
Macroeconomic Imbalance Procedure complements Stability and Growth Pact
European Semester basedOn Stability and Growth Pact
EU economic governance framework includesComponent Stability and Growth Pact
Broad Economic Policy Guidelines relatedTo Stability and Growth Pact