单词 | stability and growth pact (SGP) |
释义 | stability and growth pact (SGP)Definition An agreement between members of the European Union to maintain fiscal stability in the Eurozone. Under the pact, member countries must have an annual deficit of less than 3% of the Gross Domestic Product and a national debt lower than 60% of the GDP. A fine of 0.5% of GDP is imposed on countries which breaks the criteria for three consecutive years. |
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