It was established to reassure Germany in the run-up to creating the Euro in 1999. It’s been flouted by most member states of the Eurozone and its nickname was the ‘Stupidity’ pact which was the Growth and Stability pact. . But is the Growth & Stability pact defunct in light of pooled borrowing and bailouts? Benoit Lallemand from Finance Watch in Brussels joined Joe on the show this morning.
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