Learning about and understanding the Budgetary Pact

The Treaty on Stability, Coordination and Governance (TSCG), better known as the European Budgetary Pact was signed on 2nd March 2012 in Brussels by the heads of State and Government of 25 Member States of the European Union (all except for the UK and the Czech Republic). This treaty anticipates the implementation of stricter rules in view of countering deficits and public debt, as well as possible sanctions against the States which are lax in this area. The treaty entered into force on January 1st 2013 (at least 12 Member States of the euro zone had to ratify it).

Wikipedia: 28.5.13: European Fiscal Compact http://en.wikipedia.org/wiki/European_Fiscal_Compact

---