Begg, Iain; Schelkle, Waltraud - In: National Institute Economic Review 189 (2004) 1, pp. 86-98
The ECOFIN Council decision of November 2003 that noted the existence of ‘excessive deficits’ in France and Germany but did not impose sanctions on these two governments was widely interpreted as sounding the death-knell for the Stability and Growth Pact. A ruling by the European...