Euro Plus Pact
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Competitiveness Pact is the name given to a plan put forward by the German and French governments which is designed to improving the fiscal strength of governments and thus the competitiveness of euro zone countries. The original plan had six objectives[1]:
- abolishing wage indexation
- raising pension ages
- creating a common base for corporate tax
- adopting debt brakes
Although similar in name to the Stability and Growth Pact it is not a official EU agreement or even a finalized strategy, but instead a evolving draft with the aim of balancing the strictness of measures laid out with the palatability of the plan for national governments and their citizens.
References
External links
http://www.reuters.com/article/2011/03/10/us-eurozone-summit-idUSTRE7298KV20110310 http://www.bbc.co.uk/news/world-europe-12368401