ABSTRACT
In December 2011, more than two years and 20 odd summits into the Eurozone’s
sovereign debt crisis, the European Commission announced a new Fiscal Pact, designed to
ensure that the crisis would never be repeated. The Pact formed part of the wider Treaty on
Stability, Coordination and Governance (TSCG), which was signed by 25 European Union
(EU) governments in March 2012.
