The budgetary provisions in the Treaty, which limit the level of government deficits and debts, and the Stability and Growth Pact, which introduced the goal of budgetary positions close to balance or in surplus as a medium-term objective for Member States, have been key to achieving sounder public finances.
For purposes of supporting and safeguarding the pursuit of price stability, the Treaty has endowed the ECB with a high degree of institutional independence. Being protected from potential political pressure is a further crucial factor for the success of the ECB in allowing it to guarantee European citizens a long-term euro area perspective in pursuing its mandate of maintaining price stability.