稳定与增长公约

违反《稳定与增长公约》（stabilityandgrowthpact）的欧元区成员国，将面临几乎不可能受到阻止的制裁。

Members of the eurozone who break the stability and growth pact will face sanctions that are almost impossible to block .

最恶劣的例子是2002-03年的法国和德国，当时它们不但违反了《稳定与增长公约》（stabilityandgrowthpact），甚至还在政治上争取到多数支持来反对该公约条款的实施。

The worst example was delivered by France and Germany in 2002-03 , when they violated the stability and growth pact , and even organised a political majority against the application of its rules .

2013年，欧盟委员会（EuropeanCommission）宣布将在执行《稳定与增长公约》方面，在有严格限制的前提下适用这种做法。

In 2013 , the European Commission announced that it would apply it , within strict limits , in enforcing the stability pact .

2003年德国和法国违反《稳定与增长公约》（stabilitypact）让其他欧洲国家难以接受，就是这个原因。

That is why the violation of the stability pact by Germany and France in 2003 went down so badly with other Europeans .

“债务断头台”规则要求到2016年，德国结构性赤字最高不得超过gdp的0.35%，几乎仅相当于欧盟《稳定与增长公约》（stabilityandgrowthpact）现行规定水平的十分之一。

The " debt guillotine " requires a maximum structural deficit of just 0.35 per cent of GDP by 2016 , or little more than one-tenth of the present level set by the EU stability and growth pact .

其中最重要的措施就是所谓的《稳定与增长公约》（stabilityandgrowthpact），它的要求之一就是成员国的预算赤字不得超过当年GDP的3%。

The most important measure was the so-called stability and growth pact , which stated , among other things , that a nation could not run a budget deficit that exceeded 3 % of its GDP in any given year .

制裁只在理论上存在于稳定与增长公约【注1】中，公约要求欧盟区国家的赤字要低于gdp的3%，政府债务低于gdp的60%，但制裁从未真正实施过。

Sanctions exist , in theory , in the stability and growth pact , which requires euro-area countries to keep deficits below 3 % of GDP and government debt below 60 % of GDP , but they have never been imposed .

欧盟《稳定与增长公约》有效性探讨

Discussion on the " Stable and Growth Joint Pledge " Valid of European Union

但不可避免的诱惑是效仿《稳定与增长公约》，界定门槛。

But the temptation will inevitably arise to copy the stability pact and define thresholds .

为此，在本文的最后部分，对于稳定与增长公约的改革问题，提出一些建议和想法。

Finally , some advice and suggestions are offered to reform Stability and Growth Pact .

随着《欧洲稳定与增长公约》的崩溃，欧元区财政政策陷入了一片混乱。

The collapse of the stability and growth pact has left European fiscal policy in disarray .

论欧盟《稳定与增长公约》框架下的财政约束与改革趋向

Fiscal Restraint and Reform Tendency under the Framework of Stability and Growth Pact in European Union

首先，《稳定与增长公约》目前大体上没有得到遵守。

First , the stability pact , by and large , is not currently complied with .

《稳定与增长公约》下财政政策约束机制改革研究

On the Reform of Fiscal Discipline Mechanism under the Framework of the Stability and Growth Pact

其次，是对围绕《稳定与增长公约》所产生的主要争论进行了研究；

Secondly , to around " Stability and Growth Pact " main dispute that produce carry on research ;

“稳定与增长公约”对欧元区构成的约束，本来应当能够制约欧元计值的主权借款。

The restraint imposed on the euro area by the stability and growth pact was supposed to limit euro-denominated sovereign borrowings .

德国是欧洲货币联盟中，第一个违反稳定与增长公约中有关赤字和债务规则的国家。

Germany was the first in the European Monetary Union to break the stability and growth pact rules on deficits and debt .

各成员国根据自身情况与需求，调整税收、财政、赤字等政策，在《稳定与增长公约》允许的范围内进行调节。

The member states adjust their tax , budget and deficit according to their need in the permission of Stability and Growth Pact .

但比起要求控制中央政府收支的稳定与增长公约，对此进行监测和控制会容易得多。

But that would be far easier to monitor and control than a stability and growth pact that requires control of central government revenues and spending .

此外，有一点是它本该更清楚的：德国违反了《稳定与增长公约》，德国的银行不计后果地购买了高风险债券。

In addition , Germany , which should have known better , broke the stability and growth pact , and its banks recklessly bought risky bonds .

这是欧盟委员会首次动用《欧盟稳定与增长公约》2005年修订后授予的权力，对其成员国发布政策建议。

It was the first time that the European Commission issued a policy advice to a member state as introduced in2005 under the EU Stability and Growth Pact .

2003-04年，德国违背了《稳定与增长公约》的条款，其目的在于落实一个大胆的改革议程，该议程如今获得一致好评。

When Germany broke the terms of the stability and growth pact in 2003-04 , it did so to implement a bold reform agenda that is unanimously applauded today .

德国政府的两个报告所反映出来的经济政策，可以看出德国政府对未来经济发展的设想，以及德国政府在处理经济问题时是否能够遵守欧盟制定的《稳定与增长公约》。

The two reports also tell us the trend of German economic policy , and whether Germany can abide by the Stability and Growth Pact of the European Union .

要达成这个目标，欧盟委员会应该毫不妥协地实施当前的《稳定与增长公约》，同时在2013年设定的限制下允许对公共投资做更加合适的处理。

To achieve this , the commission should enforce the existing stability pact without concessions , while allowing for the favourable treatment of public investment within the limits set out in 2013 .

第二，在欧元诞生初期，简单化的《稳定与增长公约》可能是一个正确的选择，但欧洲已经无法再承受继续沿用这样一个过于初级的工具了。

Second , while a simplistic stability pact may have been the right choice when the euro was in its infancy , Europe can no longer afford to stick with such a rudimentary instrument .