ABSTRACT
Ratified on 9 December 2011 and signed on 2 March 2012 by the Eurozone’s heads of state and government, the “Treaty on Stability, Coordination and Governance” (TSCG), also known as the “Budgetary Pact” 2 , is totally unnecessary. Everything was already featured in the European laws that were adopted in 2011, primarily via the reform of the Stability and Growth Pact (SGP) and the boosting of economic and budgetary policy coordination included under the “Six-Pack”. 3
