Buy custom critical assessment as to why, according to the Stability and Growth Pact, member countries of the EU should maintain deficits within 3% of their GDP. 
    
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            | Topic: | Business | 
        
            | Number of pages / Number of words: | 7 / 1843 | 
                
    
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The Council Regulation reinforces budget checks and the overall coordination of economic policies. It also receives a submission of ?§stability and convergence programmes from each member state to identify any significant exciding of the 3% and discover this at an early stage so that its effect is minimised...
        
        
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This is to ensure that governments kept sound finances as a means to strengthening the conditions for price stability and strong and sustainable growth which promotes the creation of more jobs, lowering unemployment. The Strength and Stability Pact was also created as it was recognised that the loss of the exchange rate instrument, between those countries that adopted the single European Union, would require the need of economic stabilisers at national level to help economies adjust to external environmental factors...
        
        
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