Agreement on Stability and Growth Pact spells Austerity reload

Carlo Svaluto Moreolo

The reform of the Stability and Growth Pact (SGP) proposed by the European Commission (EC) in March 2023 had been criticised from all sides, but just before Christmas, European finance ministers agreed on new terms. The SGP had been suspended in response to the COVID-19 crisis but comes back into force in 2024. 

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