stability pact

noun

1. an agreement between the member states of the EU which have joined the single currency, the aim of which is to secure the currency's stability by imposing fines on member states whose budget deficits exceed 3 per cent of their gross domestic product

Example Sentences

EU Economic Commissioner Paolo Gentiloni said on Saturday he aimed to present a reform of the eurozone Stability Pact after the summer, adding that the new rules would likely include country-specific debt targets.

From Reuters

“We are discussing how to reform the stability pact ... I think I can present a proposal after the summer,” Gentiloni said, speaking at an economic event in the Italian town of Trento.

From Reuters

State support and investment programmes to counter the economic impact of COVID-19 have sent many EU states’ debt levels soaring beyond the Stability Pact’s current 60% of GDP limit, with the average eurozone debt-to-GDP target currently at 97.5%, according to the commissioner.

From Reuters

Her announcement was made after she switched parties and comes two months before a political stability pact between premier Ismail Sabri Yaakob's government and the opposition expires on July 31, potentially paving the way for a national election.

From Reuters

European finance ministers will meet today to discuss when to return to the stability pact suspended during the pandemic.

From Reuters