Memo: Croatia: Commission takes steps under the Excessive Deficit Procedure

On 10 December 2013, the European Commission issued an opinion, proposing to the Council of Ministers to decide that an excessive deficit exists in Croatia.

The Commission also issued a recommendation for the Council to decide on the proposed adjustment path and budgetary targets in order for Croatia to correct the excessive deficit and ensure that the country's deficit and debt are brought back into line with the requirements of the EU Treaty.

EU Finance Ministers are likely to discuss these Recommendations at the ECOFIN Council meeting on 28 January 2014 with a view to issuing a Council Recommendation to correct the excessive deficit and bring the debt path in line with what is required.

EurActiv, 11.12.13: Commission proposes excessive deficit procedure for Croatia http://www.euractiv.com/euro-finance/commission-proposes-excessive-de-news-532252

---