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Compact in sentence

285 examples of Compact in a sentence

Putin’s popularity, which remains high, rests on a social compact requiring the government to deliver financial stability and a slowly but steadily rising standard of living.
An EU with a more compact and coherent approach to defense will make NATO stronger and directly benefit the US.
Such a social compact and multi-stakeholder process would not replace judicial oversight and international human-rights law.
This week, world leaders have an opportunity to steer developments onto a new and more hopeful path when they meet in London to forge a new compact with Afghanistan.
The compact builds on the 2001 Bonn Agreement, which laid the framework for a democratic Afghanistan but left much to be done to overcome that war-torn country’s tragic legacy.
But though it has been well received among African leaders, the compact nonetheless perpetuates the trend of restricting African engagement to development issues.
The fiscal compact is an empty gesture that may be the last attempt to pretend that EU members are moving toward political unification.
Will Europe’s Fiscal Compact Work?
The compact – technically called the Treaty on Stability, Coordination, and Governance in the Economic and Monetary Union – requires member countries to introduce laws limiting their structural government budget deficits to less than 0.5 % of GDP (or less than 1% of GDP if their debt/GDP ratio is “significantly below 60%”).
The problem is what comes after that: the risk that the fiscal compact will founder on precisely the same shoals as the SGP.
Perhaps it will help that, under the fiscal compact, the rules are to be adopted at the national level, as opposed to the SGP, which operated on the supranational level.
These institutions include independent fiscal-forecasting agencies, combined with the cyclically adjusted budget targets that the eurozone’s fiscal compact mandates.
One approach might be to ask citizens in all European countries whether they are prepared to accept some sort of fiscal compact involving a hard limit on debt.
The revamped growth compact would more effectively allocate European resources and increase the flexibility of permanent transfers from rich to poor countries – provided that the money is used for productive investment.
Obviously, they would like to do many things, but they are obliged to abide by the fiscal compact and the many other austerity measures.
The Scandinavian social compact rests on the understanding that citizens must pay high taxes in exchange for public services.
To be sure, in 2011 a so-called fiscal compact was agreed in order to avoid precisely this consequence.
The compact, signed by all European Union member states except the United Kingdom and the Czech Republic, obliges governments among other things to reduce their (smoothed) debt/GDP ratio annually by one-twentieth of the difference between the actual debt/GDP ratio and the Maastricht limit of 60%.
However, the exceptions foreseen in the compact have effectively removed theses constraints.
Had the compact been enforced, Italy would have had to reduce its debt/GDP ratio from 121% in 2011 to 112% in 2014.
That is why the Education Commission calls for a financing compact between developing countries and the international community, whereby wealthier countries offer increased finance and guidance to developing countries that commit to educational reform and investment.
In July, the General Assembly took this a step further, producing the Global Compact for Safe, Orderly and Regular Migration, which set out universal best practices.
Perhaps the age of irresponsibility is over; perhaps we no longer have to shop until we drop; perhaps the compact between the individual and the government, in which both are understood to have obligations as well as rights, can be restored; perhaps the state will cease to treat its citizens like maladjusted adolescents, of whom nothing much can be demanded and to whom everything is permitted.
At this point, society either succumbs to dictatorship or forges a new social compact that accepts the revolution’s key results.
So there now exists a real possibility for a new social/political compact.
Europe’s Brush with DebtMUNICH – French Prime Minister Manuel Valls and his Italian counterpart, Matteo Renzi, have declared – or at least insinuated – that they will not comply with the fiscal compact to which all of the eurozone’s member countries agreed in 2012; instead, they intend to run up fresh debts.
The fiscal compact – formally the Treaty on Stability, Coordination, and Governance in the Economic and Monetary Union – was the quid pro quo for Germany to approve the European Stability Mechanism (ESM), which was essentially a collective bailout package.
The compact sets a strict ceiling for a country’s structural budget deficit and stipulates that public-debt ratios in excess of 60% of GDP must be reduced yearly by one-twentieth of the difference between the current ratio and the target.
The effective renunciation of the fiscal compact by Valls and Renzi suggests that these ratios will rise even further in the coming years.
For Europe’s leaders, the withdrawal by France and Italy from the fiscal compact should serve as a clear sign that the mutualization model is not working for the eurozone, either.
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