The Stability and Growth Pact is an agreement among EU member countries to limit budget deficits to 3% of GDP and debt to 60% of GDP. It has been criticized for being too rigid, but was modified in 2005 to allow for more flexibility during economic cycles. The 16 countries that make up the European […]
The Warsaw Pact was an agreement between communist states of Europe, initiated by the Soviet Union in response to NATO. It dissolved in 1991 with the collapse of the Soviet Union. The pact united each nation’s military might and had two main tasks: the Political Advisory Committee and the Unified Command of the Covenant Armed […]
The Stability and Growth Pact is an agreement between EU member nations to limit budget deficits to 3% of GDP and debt to 60% of GDP. It was amended in 2005 to allow for more flexibility in budgeting for longer business cycles. The pact has been criticized for being too rigid or too soft, and […]
