European Union and the Stability and Growth Pact for the members
of the European Monetary Union which set a de�cit ceiling of … of the Stability and Growth Pact appears to be the
three percent de�cit target because it is regulated on a yearly basis … Sleijpen, O. (1997). Stability and growth pact:
Placebo or panacea? I and II, European Business Law Review 20: 202�10 and
233 …