In relation to fiscal policy, the emphasis is to limit public sector borrowing, and the outstanding level of public sector debt, to levels that can be sustained into the medium and longer term without the need for increasing taxes or the imposition of rising real interest rates.
You will have noticed that these principles, already formalized before the Madrid Declaration, are also the ones underlying European Monetary Union. This aim of macro-economic stability brings into sharper focus the structural, supply side, of the economy.