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01 Dec 2005 description

2005 was a significant turning point in the history of the Stability Pact, as the Stability Pact Office launched a "regional ownership" process in an effort to strengthen the participation of South and Eastern European governments in initiatives launched under the Stability Pact umbrella. Given that the Stability Pact had been created as a temporary instrument, the stakeholder governments and organisations welcomed this step, and considered it crucial in consolidating the successes that have been built up to date.