. European Central Bank | Akateeminen Kirjakauppa

In Europe, the Stability and Growth Pact, which was adopted in 1997, strengthened the Treaty provisions on fiscal discipline in the European Union. Government sector accounts as part of the system of national accounts play a key policy role in this field. The new Code of Conduct of the Pact has also incorporated guidelines on the countries' strategies to ensure the sustainability of public finances, especially in view of the economic and budgetary impact of ageing populations.