The 17 countries in the euro area gave their consent, on Saturday morning, to a Pact aiming to bring their economic policies closer, to avoid a new debt crisis in Europe. Under pressure from Berlin, the European countries negotiated a series of measures to monitor the Member States’ public finances and safeguard their competitiveness. However, the outcome is different from the draft which went around a few weeks ago with which some countries feared Germany would impose its competitiveness system to its partners in the euro area. The “social” chapter of the Pact for the Euro will be based on voluntary national commitments and procedures to monitor progress, within the framework of the coordination of economic and employment policies the Twenty-Seven are going to apply as part of the European 2020 Strategy. Countries that aren’t members of the euro area are invited to join the Pact if they want to.
tes’ public finances and safeguard their competitiveness. However, the outcome is different from the draft which went around a few weeks ago with which some countries feared Germany would impose its competitiveness system to its partners in the euro area. The “social” chapter of the Pact for the Euro will be based on voluntary national commitments and procedures to monitor progress, within the framework of the coordination of economic and employment policies the Twenty-Seven are going to appl
…Do you have information to share with us?