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  • In March 2011, following the 2010 European sovereign debt crisis, the EU member states adopted a new reform under the Open Method of Coordination, aiming at straightening the rules e.g. by adopting an automatic procedure for imposing of penalties[specify] in case of breaches of either the deficit or the debt rules.[17][18] The new Euro Plus Pact is designed as a more stringent successor to the S
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