Did Germany get ifned for breaking the Fiscal Growth and Stability Pact?

Question

Please provide source (for project). Regards Colin

Answer 1

No. The pact has proved not to be enforceable against big countries such as France and Germany, which, ironically, was the biggest promoter of it when it was created. These countries have run "excessive" deficits under the pact definition for some years. The reasons that larger countries have not been punished include their influence and large number of votes on the Council of Ministers, which must approve sanctions; their greater resistance to "naming and shaming" tactics, since their electorates tend to be less concerned by their perceptions in the European Community; their comparatively weak commitment to the Euro, as compared to smaller states; the relatively greater role of government spending in their larger and more enclosed economies.