Theodor Waigel, German Christian Democrat Finance Minister from 1989 to 1998 who, in autumn 1995, proposed the adoption of a Stability and Growth Pact for the future euro-zone countries.

In November 1995, convinced that the introduction of the single currency must be accompanied by efforts in the area of budgetary discipline, Theo Waigel, German Finance Minister, proposes the adoption of a Stability Pact between the Member States of the European Union participating in Economic and Monetary Union (EMU).

On 13 December 1996, Theo Waigel, German Finance Minister, gives his immediate reaction to the outcome of the Dublin European Council, in particular concerning the establishment of a Stability and Growth Pact with a view to the transition to the third stage of Economic and Monetary Union (EMU).

On 13 and 14 December 1996, the Dublin European Council adopts the report of the Ecofin Council, drawn up in close cooperation with the European Commission and the European Monetary Institute (EMI), on the technical and legal preparations required for the transition to the third stage of Economic and Monetary Union (EMU) on 1 January 1999.

On 14 and 15 December 1996, the daily newspaper Luxemburger Wort leads on the role of mediator played by Jean-Claude Juncker, Luxembourg Prime Minister, with a view to finding a solution to the difficult negotiations conducted by the Fifteen on the Stability and Growth Pact at the Dublin European Council of 13 and 14 December.

On 14 December 1996, the French daily newspaper Le Figaro outlines the main provisions of the Stability and Growth Pact which were finalised with difficulty by the Fifteen at the Dublin European Council held on 13 and 14 December.

On 14 December 1996, the Madrid daily newspaper El País outlines the main provisions of the Stability and Growth Pact concluded, with difficulty, by the Fifteen at the Dublin European Council of 13 and 14 December.

On 15 December 1996, the French daily newspaper Le Monde outlines the outcome of the Dublin European Council held on 13 and 14 December, with particular regard to the establishment of a Stability and Growth Pact for the future countries of the euro zone.

On 17 December 1996, the Luxembourg daily newspaper Luxemburger Wort comments on the decisions taken at the Dublin European Council of 13 and 14 December, with particular regard to the Stability and Growth Pact for the future countries of the euro zone.

‘It was self-defence, honest!’ On 15 January 2004, the German cartoonist, Horst Haitzinger, takes an ironic look at the uncomfortable position of Hans Eichel, German Finance Minister, who is attempting to justify the position of the Federal Republic of Germany (FRG) before the Court of Justice of the European Communities regarding its failure to comply with the Stability and Growth Pact.

On 13 June 1997, Ferdinando Riccardi, Editor-in-Chief of Agence Europe in Brussels, looks ahead to the decisions due to be taken at the Amsterdam European Council on 16 and 17 June and welcomes the introduction of the Stability and Growth Pact, emphasising its importance in the light of the transition to the third stage of Economic and Monetary Union (EMU) on 1 January 1999 and of the introduction of the single currency.

On 16 and 17 June 1997, the Amsterdam European Council adopts a resolution which sets out the firm commitments entered into by the Member States of the European Union, the Commission and the Council with regard to the implementation of the Stability and Growth Pact.

On 17 June 1997, Jacques Chirac, President of the French Republic, and his Prime Minister, Lionel Jospin, outline the main decisions taken by the Fifteen at the Amsterdam European Council, with particular regard to the establishment of the single currency and of the Stability and Growth Pact.

In November 2011, in reaction to the crisis and the weakness of the economic pillar of Economic and Monetary Union, the European Parliament and the Council of the EU adopt a series of six legislative texts (five regulations and a directive) to strengthen the coordination of economic policies and fiscal discipline. Two texts specifically concern the Member States in the euro area: they provide for an increased regime of sanctions at an early stage to prevent public deficits and macroeconomic imbalances.