Revision of the Stability and Growth Pact

This procedure concerns the update of the EU's fiscal rules, known as the Stability and Growth Pact. It aims to ensure that member states maintain sustainable public finances and coordinate their economic policies to prevent excessive deficits and maintain financial stability across the eurozone.

This will primarily affect national governments and finance ministries, as it changes how public deficits and debt levels are monitored and managed within the European Union.