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stability pact

British

noun

an agreement between the member states of the EU which have joined the single currency, the aim of which is to secure the currency's stability by imposing fines on member states whose budget deficits exceed 3 per cent of their gross domestic product

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

“We are discussing how to reform the stability pact ... I think I can present a proposal after the summer,” Gentiloni said, speaking at an economic event in the Italian town of Trento.

From Reuters • Jun. 4, 2022

He said the growth and stability pact - which limits deficits to 3% and debt to 60% of GDP - would not be altered but flexibility would be explored in order to boost growth.

From BBC • Jul. 15, 2014

The real question about the fiscal pact – the successor to the stability pact – is enforceability.

From The Guardian • Dec. 28, 2012

German Chancellor Angela Merkel and French President Nicolas Sarkozy are planning a fast-track stability pact to stem the crisis, Welt am Sonntag reported, without saying where it got the information.

From BusinessWeek • Nov. 28, 2011

There the ministers are due to approve the controversial, German-inspired "stability pact," intended to impose continued budgetary rigor once the euro is launched.

From Time Magazine Archive

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023