According to Wikipedia article about Stability and Growth Pact there are many issues related to its implementation:

  • unenforceable against big countries
  • weakened in 2005 to waive France's and Germany's violations
  • Debt-to-GDP ratio is still increasing for almost all countries that violate the 60% threshold for this indicator

Considering above I am wondering if the Pact is of any significant use.

Question: Why is Stability and Growth Pact still maintained?

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