Stability and Growth Pact
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(SGP).
The European Union's Stability and Growth Pact is a rule-based framework for the coordination of national fiscal policies in the European Union.
It has been through several phases since passage of the implementing secondary legislation. In its modern form it particularly affects euro area countries.
The Pact was complemented and extended by the Fiscal Compact contained within the inter-governmental Treaty on Stability, Coordination and Governance (TSCG) that is binding on euro area countries and other Member States once they adopt the euro as their currency or voluntarily agree, but it has not been signed by the UK or the Czech Republic.
