To quote Roger W Ferguson Jr on this (2005): “but any compelling explanation of the current account deficit must identify not merely the proximate influences on the deficit – be they exchange rates, capital flows, or aggregate saving and investment – but also the fundamental , underlying sources of the imbalance”.
And countries with fiscal imbalances should use the current favourable economic environment to achieve such sound position rapidly. In particular, the Pact calls on Member States to bring budget balances to their so called medium-term budgetary objectives and maintain them at that level.