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Hard
Which of the following correctly describes the legal status of the Stability and Growth Pact (SGP) within the EU framework?
A
It is a treaty that directly applies in all member states.
B
It is an intergovernmental agreement requiring ratification by each EU country's parliament.
C
It is a regulation that directly applies in all member states without the need for national implementation.
D
It is a directive that requires transposition into national laws by the member states within two years.
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