The contribution of fiscal policy to a stable euro With regard to fiscal policies, I should like to stress the following main points of interest with regard to a stable euro: •  A sound conduct of fiscal policies is important for the stability of the euro.
•  In particular, strict implementation of the Stability and Growth Pact by each Member State is vital. BIS Review 29/1999  2  •  The targets envisaged in the current stability programmes to bring down government deficits and debt levels represent a minimum requirement for most Member States rather than a final aim.