Gøteborg og Østeuropa

 
Gøteborg har fået gode forbindelser til Østeuropa.



SGP - does it work?

The Stability and Growth Pact (SGP) is a rule-based framework for the coordination of national fiscal policies in the economic and monetary union (EMU). It was established to safeguard sound public finances, an important requirement for EMU to function properly. The Pact consists of a preventive and a dissuasive arm.

The preventive arm

Under the provisions of the preventive arm, Member States must submit annual stability or convergence programmes, showing how they intend to achieve or safeguard sound fiscal positions in the medium term taking into account the impending budgetary impact of population aging. The Commission assesses these programmes and the Council gives its Opinion on them. The preventive arm includes two policy instruments.

• The Council, on the basis of a proposal by the Commission, can address an early warning to prevent the occurrence of an excessive deficit.
• Using the policy advice, the Commission can directly address policy recommendations to a Member State as regards the broad implications of its fiscal policies

The dissuasive arm

• The dissuasive part of the Pact governs the excessive deficit procedure (EDP). The EDP is triggered by the deficit breaching the 3% of GDP threshold of the Treaty. If it is decided that the deficit is excessive in the meaning of the Treaty, the Council issues recommendations to the Member States concerned to correct the excessive deficit and gives a time frame for doing so. Non compliance with the recommendations triggers further steps in the procedures, including for euro area Member States the possibility of sanctions.

NEE Network Eastern Europe had a deceisive seminar in August in LUND Sweden.