To see why, it is worth recalling that the SGP’s original rules were judged “stupid” by one former Commission president (Romano Prodi), because the single-minded pursuit of a deficit below 3 % of GDP could be inappropriate during recessions. That argument was accepted, and the SGP was supposedly rendered more “intelligent” by, for example, permitting budget deficits to be adjusted for the economic cycle, adding medium-term objectives for expenditure, and introducing escape clauses.