Here common fiscal rules are important to ensure that Member States do not take on excessive levels of debt, because low levels of debt and larger buffers give countries greater fiscal space to mitigate economic downturns.
It has been estimated that the central banks of these countries spent about $ 3 billion to $ 5 billion to buy euros in the last week of September. As a result the euro’s value against the dollar promptly rose from below 85 cents to around 90 cents.