Consider the following statements. The 'Stability and Growth Pact' of the European Union is a treaty that:1. limits the levels of the budgetary deficit of the countries of the European Union2. makes the countries of the European Union to share their infrastructure facilities3. enables the countries of the European Union to share their technologiesHow many of the above statements are correct?

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Only one. The correct answer is Only one. Statement 1 is correct. The Pact limits the budget deficit, with 3% of GDP as the reference value. Statements 2 and 3 are wrong. The European Parliament's list of the Pact's measures covers budget surveillance, the excessive deficit procedure, sanctions and budget-framework rules. It has no tool for sharing infrastructure or technology. UPSC's official Series A key gives the same answer. Read more: The EU's Stability and Growth Pact.

The general escape clause of the Stability and Growth Pact allows a temporary deviation from budget rules in a severe downturn. When was it due to be deactivated?

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