摘要：Three outside experts offer very different viewpoints on the future
of the Stability and Growth Pact. One says the pact is flawed and that a new one
is needed. A second one says the problem with the pact is not in how it is
written but in how it is applied. According to an intermediate viewpoint, the
pact treats all countries the same without regard to their underlying fiscal
institutions. It is fine as it is but, if reformed, should take into account the
possible effect on countries’ fiscal institutions.
