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Understanding the budgetary Pact
Understanding the Treaty on Stability, Coordination and Governace, known as the « Budgetary Pact »
The Treaty on Stability, Coordination and Governance (TSCG), better known as the European budgetary pact, signed on 2nd March 2012 in Brussels by the heads of State and government of 25 Member States of the European Union (all except for the UK and Czech Republic) entered into force on 1st January 2013. Actually, it was decided that it would enter into force once 12 euro zone Member States have ratified it. Since 21st December 2012, it has been the case. Since 7th March 2013, it has been ratified by 19 of them (including 13 in the euro zone).
The Robert Schuman Foundation offers you a special dossier including:
The Treaty on Stability, Coordination and Governance (TSCG), better known as the European budgetary pact, signed on 2nd March 2012 in Brussels by the heads of State and government of 25 Member States of the European Union (all except for the UK and Czech Republic) entered into force on 1st January 2013. Actually, it was decided that it would enter into force once 12 euro zone Member States have ratified it. Since 21st December 2012, it has been the case. Since 7th March 2013, it has been ratified by 19 of them (including 13 in the euro zone).
The Robert Schuman Foundation offers you a special dossier including:
- A paper by the Chairman of the Robert Schuman Foundation, Jean-Dominique Giuliani entitled "Learning about and understanding the Budgetary Pact" which recalls the context in which the treaty was adopted and defines the main outline of its content.
- Three summary sheets on the rule (definition, goals and impact) written by Sébastien Richard, lecturer in economy and public policy at the University of Paris X Nanterre.
- An explanatory paper on the Budgetary Pact as well as a table of the ratifications of the treaty on Stability, Coordination and Governance per country.
Text of the treaty
See the text of the Treaty on Stability, Coordination and GovernanceThe special dossier
Download the special dossierThe ratification table by country
Download the table
At 7th March 2013, 19 Member States [1] of the 25 signatories including 13 Eurozone States [2] have already ratified the Budgetary Pact.
The Foundation has updated this table which provides an overview of the ratifications in the various Union countries.
| Countries | Ratification Method | Date | Result |
|---|---|---|---|
| Germany € | by parliament |
29/06/2012 30/06/2012 |
Yes (Bundestag: 491 votes for, 111 against, 6 abstentions; Bundesrat: 65 voix for, 4 against) |
| Austria € | by parliament |
04/07/2012 06/07/2012 |
Yes (Nationalrat: 103 votes for, 60 against; Bundesrat : 42 votes for, 13 against) |
| Belgium € | by parliament | ||
| Bulgaria | by parliament | ||
| Cyprus € | by parliament | 20/04/2012 | Yes (Act of Council of Ministers) |
| Denmark | by parliament | 31/05/2012 | Yes (80 votes for, 27 against) |
| Spain € | by parliament |
21/06/2012 18/07/2012 |
Yes (Congreso de los Diputados : 311 votes for, 19 against ; Senado : 240 votes for, 4 against, 1 abstention) |
| Estonia € | by parliament | 17/10/2012 | Yes (Riigikogu : 63 votes for, 0 against, 0 abstention) |
| Finland € | by parliament | 21/12/2012 | Yes (Eduskunta : 139 votes for, 38 against, 1 abstention and 21 absent) |
| France € | by parliament |
09/10/2012 11/10/2012 |
Yes (National Assembly: 477 votes for, 70 against and 21 abstentions ; Senate: 306 votes for, 32 against) |
| Greece € | by parliament | 28/03/2012 | Yes (194 votes for, 59 against and 47 abstentions) |
| Hungary | by parliament | ||
| Ireland € | referendum | 31/05/2012 | Yes (60.29% of the votes cast) |
| Italy € | by parliament |
12/07/2012 19/07/2012 |
Yes (Senate: 216 votes for, 24 against and 21 abstentions; Chamber of Deputies: 368 votes for, 65 against and 65 abstentions) |
| Latvia | by parliament | 31/05/2012 | Yes (67 votes for, 29 against, 1 abstention, 3 absent) |
| Lituania | by parliament | 28/06/2012 | Yes (80 votes for, 11 against and 21 abstentions) |
| Luxemburg € | by parliament | 27/02/2013 | Yes (46 votes for, 10 against) |
| Malta € | |||
| Netherlands € | by parliament | ||
| Poland | by parliament | 20/02/2013 | Yes (sejm : 282 votes for, 155 against) |
| Portugal | by parliament | 13/04/2012 | Yes (Parliament: 204 votes for, 24 against and 2 abstentions) |
| Czech Republic | Non signatory of the TSCG | ||
| Romania | by parliament |
08/05/2012 21/05/2012 |
Yes (Chamber of Deputies: 237 votes for, 2 abstentions; Senate: 89 votes for, 1 against, 0 abstentions) |
| United-Kingdom | Non signatory of the TSCG | ||
| Slovakia € | by parliament | ||
| Slovenia € | by parliament | 19/04/2012 | Yes (74 votes for and 2 abstentions out of 76 by MPs in attendance) |
| Sweeden | by parliament | 7/03/2013 | Yes (251 votes for, 23 against) |
The ratifications in this table are deemed complete when they are approved by Parliament [3].
Key :
€
Euro zone country which has ratified the Budgetary Pact
EU country which does not belong to the euro zone but which has ratified the Budgetary Pact.
[1] Germany, Austria, Cyprus, Denmark, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Poland, Portugal, Romania, Slovenia, Sweden.
[2] Germany, Austria, Cyprus, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Luxembourg, Portugal, Slovenia.
[3] Except for Ireland which used the referendum.
[2] Germany, Austria, Cyprus, Spain, Estonia, Finland, France, Greece, Ireland, Italy, Luxembourg, Portugal, Slovenia.
[3] Except for Ireland which used the referendum.
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