The accession of Bulgaria to the European Union and the expected joining of the Eurozone demands for explanation of the trends in the macroeconomic policy and the requirements to it. In connection with this the article presents the main characteristics, aims, and criticisms of the Stability and Growth Pact, which is supposed to outline the fiscal macro frame the Eurozone member states should stick to. The basic proposals for revision of the Pact descending from the academic circles are examined…