The recent discussions within the European Council show a lack of ambition compared to the already timid proposals of the Commission; although the designed new fiscal framework might speed up a faster and broader-based imposition of sanctions on countries that do not comply with the SGP rules. It is to be hoped that the European Parliament will revert to an automatic sanction mechanism.
Indeed, it should be possible to start with some sanctions even before a country breaches the 3%-of-GDP rule, thus strengthening the preemptive side of the framework. 6  BIS Review 144/2010  Concluding remarks Having stabilized the global economy over the last three years, the current challenge is to return on a path of increased stability.