Warning on deficits tests EU stability pact

Author (Person)
Series Title
Series Details 4.2.02, p6
Publication Date 04/02/2002
Content Type

In early February 2002 diplomatic efforts were underway to try to reach a face-saving compromise over the European Commission's plan to warn Germany and Portugal about their growing budget deficits. The warning has turned into a credibility test for the stability and growth pact which enforces budgetary discipline in Europe's monetary union.

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