9. Recalls that the Stability and Growth Pact is an essential element of the credibility of the Euro area and attainment of a balanced fiscal position is a prerequisite to let automatic stabilisers work fully, that a right "policy mix" between monetary and fiscal policy presupposes sound public finances, that allowing national budgets to “breathe” in connection with t
he pace of economic activity is fully understandable as long as the budget is balanced over
an entire economic cycle, calls the Member States having not yet reached a bal
...[+++]anced fiscal position to avoid any dramatic drift of their current budgetary position;