The stability and growth pact was designed to limit budget deficits, but nobody believed its sanctions would be enforced.
稳定和增长条约旨在限制预算赤字,但是没有人认为其制裁会被强制执行。
Under the euro area's stability and growth pact (SGP), economies running deficits larger than 3% of GDP were supposed to trim their structural deficits by 0.5% of GDP per year or face fines.