Economic governance "two pack" background note 

 
 

The "two pack" is the latest piece of the EU's economic governance revamp. It joins other instruments such as the European Semester, the "six pack" and the Fiscal Compact in ensuring that the EU's economic and monetary union is less fragmented and that its component countries run fiscally sound policies.

This background note gives an overview of the basic components of the 'two pack', highlights how legislators changed the rules as originally proposed by the European Commission and explains the main hurdles that had to be cleared before a deal could be reached.