It is crucial that efforts are maintained to restore sound fiscal positions, in line with the commitments under the Stability and Growth Pact and the 2012 European Semester recommendations. A rapid implementation of the fiscal compact will also play a major role in strengthening confidence in the soundness of public finances.
Figure 13 USA: net lending (-) or borrowing (-) by sector (in percent of GDP; quarterly data) 60 40 20 0 -20 -40 Government  -60  Corporates Households  -80  Total -100 1980  1982  1984  1986  1988  1990  1992  1994  1996  1998  2000  2002  2004  2006  2008  Source : Federal Reserve, Flow of Funds Accounts.