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This paper will discuss the creation of the Stability and Growth pact, as well as the changes that have been made to the initial document, explaining when and why things were amended.
The Stability and Growth Pact (SGP) is an agreement between the member countries of the European Union (EU) which facilitates and maintains the Economic and Monetary Union (EMU) of the European Union. The SGP was born from the Maastricht negotiations, where members of what would be the EU met and it was decided that there needed to be “binding rules for deficits. ” However, each country seemed to have a different idea as to what those rules should be...
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Common topics in this essay:
- Should the EU keep, modify or abolish the Stability and Growth Pact?
- critical assessment as to why, according to the Stability and Growth Pact, member countries of the EU should maintain deficits within 3% of their GDP.
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