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?