Question

The European "stability pact" of 1999 required that the countries that used the euro as their currency: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices balance their budgets each fiscal year. have budget deficits no greater than the strongest economy in the Euro group, which was usually Germany. increase spending or decrease taxes in a serious economic downturn. have budget deficits no greater than 3% of a country's GDP.

Answer 1

Option D.

Step-by-step explanation:

Have budget deficits no greater than 3% of a country's GDP, is the right answer.

The Stability and Growth Pact is a negotiation, among the 28 constituent states of the European Union, to promote and sustain the balance of the Economic and Monetary Union.

Based originally on Articles 121 and 126 of the Treaty on the Functioning of the European Union, it is comprised of financial monitoring of constituents by the Council of Ministers and European Commission and the issuing of an annual testimonial for management procedures to assure full acquiescence with the SGP further in the medium-term.