A strict interpretation of the Pact therefore means that German fiscal policy must endeavour, also in line with the earlier provisions of the European Commission and the Ecofin Council, to comply with the 3% ceiling for the deficit ratio in the coming year.
This ceiling will be overshot in 2003 for the second  1  J. Stark, H. Remsperger, Regeln in der Budgetpolitik - Zur Kritik am Stabilitätspakt, in: Deutsche Bundesbank, Auszüge aus Presseartikeln, Nr. 40, 16.9.2003, p.10-13. BIS Review 48/2003  3  year running.