1. The Stability and Growth pPact
... and convergence programmeprograms", 12 October, 1998). The pact consists of the two Council regulations, with the resolution as a confirmatory measure and the opinion as a clarification for purposes of implementation. The first Council regulation (1466/97) strengthens the surveillance and monitoring of fiscal stance based on Article 99 ... criteriona of 60 percent of GDP by the addition of a supplemental clause in Maastricht that allowed for attainment of this criteriona if there was a recorded fall in the debt measure for those heavily-indebted member states. This emphasis on the budget...
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- Grade Level: Graduate