Eurogroup policy areas Euro area member states coordinate their
economic policies in order to ensure coherence and stability in
the euro area. Euro area members share a single monetary policy.
Responsibility for this policy lies with the European Central
Bank, together with national central banks within the euro
area's "Eurosystem". Although member states remain in charge of
their economic policies, they are coordinated in order to ensure
coherence and stability in the euro area. Areas of coordination
A set of rules to ensure the sustainability of public finances
was agreed on during the process of establishing the euro area
in 1997. This became known as the Stability and Growth Pact.
These rules, which apply to budgetary policies, are reinforced
through two economic governance legislative packages, the "six-
pack" in 2011 and the "two-pack" which is expected to be adopted
in 2013. The "six-pack" furthermore extended the coordination to
other areas, such as broader macroeconomic policies. These
reforms are exp