EU lawmakers agree on Stability and Growth Pact overhaul

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The European Council and the European Parliament on Tuesday agreed a package of economic governance proposals in the euro area that fall short of the "quantum leap" called for by the European Central Bank (ECB).

The Council said it had reached a compromise with the European Parliament on a package of six legislative proposals on economic governance to strengthen the corrective and preventative arm of the Stability and Growth Pact.

To ensure fiscal discipline among member states, the Stability an

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