On the night of Friday February 9 to Saturday February 10, 2024, MEPs and Member States reached an agreement on a reform of the European Union's budgetary rules. The reform intends to modernize the stability pact, created at the end of the 1990s, which limits the public administration deficit for each country to 3% of GDP and the debt to 60%.
The text, discussed for more than two years, is however criticized for its great complexity and ridiculed by left-wing elected officials as a tool installing austerity in Europe.