25 eurozone countries sign fiscal pact
25 eurozone countries sign fiscal pact
Twenty-five eurozone countries signed a treaty that creates tighter budget discipline for the eurozone, Reuters reported. The only two to refrain from signing the compact were Great Britain and the Czech Republic. The fiscal compact makes eurozone countries write a “golden rule” on balanced budgets into their national constitutions or equivalent laws, with automatic correction mechanisms if the rule is breached.
Twenty-five eurozone countries signed a treaty that creates tighter budget discipline for the eurozone, Reuters reported.
The only two to refrain from signing the compact were Great Britain and the Czech Republic.
The fiscal compact makes eurozone countries write a “golden rule” on balanced budgets into their national constitutions or equivalent laws, with automatic correction mechanisms if the rule is breached.
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