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 (2)

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 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 (22)

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 ⓘ
Economic and Monetary Union of the European Union → fiscalRulesFramework → Stability and Growth Pact ⓘ
subject linked to: EMU
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 ⓘ
European Union economics → studies → Stability and Growth Pact ⓘ
federal budget of Germany → relatedTo → Stability and Growth Pact of the European Union ⓘ
linked to: Stability and Growth Pact
State Budget of Portugal → constrainedBy → Stability and Growth Pact ⓘ
General State Budget of Spain → relatedTo → Stability and Growth Pact of the European Union ⓘ
subject linked to: general state budget of Spain
linked to: Stability and Growth Pact
Maastricht criteria → relatedTo → Stability and Growth Pact ⓘ
Fiscal Compact → strengthens → Stability and Growth Pact ⓘ
Six-Pack legislation → basedOn → Stability and Growth Pact ⓘ
Six-Pack legislation → modifies → Stability and Growth Pact ⓘ
Two-Pack legislation → complements → Stability and Growth Pact ⓘ
Country-Specific Recommendations → relatedTo → Stability and Growth Pact ⓘ
Article 121 TFEU → relatedTo → Stability and Growth Pact ⓘ