The changes agreed this week clearly water down the EU stability and growth pact (SGP) and allow far greater scope for countries to run budget deficits above the 3% limit. Thus it may seem odd that euro-zone bond markets were unaffected. In this Focus we take a step back to put the slow death of the pact into context.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services