In order to ensure the stability of the Economic and Monetary Union, a robust framework is needed to prevent unsustainable public finances as far as possible. A reform (part of the ‘Six Pack’) amending the Stability and Growth Pact (SGP) entered into force at the end of 2011. Another reform in this policy area, the intergovernmental Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG), including the Fiscal Compact, entered into force in early 2013. Furthermore, a regulation on assessing national draft budgetary plans (part of the ‘Two Pack’) entered into force in May 2013. On 30 April 2024, a reformed economic governance framework entered into force. After the review, in October 2025 the Commission tabled new proposals to ensure the consistency of the framework as a whole. Source : © European Union, 2026 - EP Read more