The stability and growth pact's role in national debt management : a breach of sovereignty or a path to consolidate integration?

Abstract

The Stability and Growth Pact plays a critical role in the management of national debt within the eurozone, with implications for both European integration and MS sovereignty. This dissertation examines the development of the SGP, its preventive and corrective arms, critical moments of crisis and reform, such as the Greek and Spanish crises, and the introduction of the Six Pack and Two Pack Regulations. An exploration of the dual nature of the SGP as both a tool for promoting economic stability and an instrument of encroachment is attempted. The dissertation also discusses potential future amendments. In essence, the need for a delicate balance between European integration and Self Determination in the future eurozone is sought, and the importance of learning from past crises is understood, both of which help craft a more resilient and responsive framework for the future of debt management and economic governance.