Press Release: European Commission assesses Draft Budgetary Plans 2015: seven Member States at risk of non-compliance

On the 28 November 2014 the European Commission completed its assessment of 16 euro area countries' 2015 Draft Budgetary Plans, focusing on their compliance with the provisions of the Stability and Growth Pact.

For five countries (Germany, Ireland, Luxembourg, the Netherlands and Slovakia), the Draft Budgetary Plans were found to be compliant with the Pact, while for four countries (Estonia, Latvia, Slovenia and Finland), the plans were found to be broadly compliant. However, for seven countries (Belgium, Spain, France, Italy, Malta, Austria and Portugal), the Commission’s opinions pointed to a risk of non-compliance. The Commission asked the latter two groups of countries to take the necessary measures within the national budgetary process to ensure that the 2015 budget would be compliant with the Pact.

ESO: Background information: France, Italy, Belgium to get extra three months on deficit and debt http://www.europeansources.info/record/eu-still-undecided-on-france-deficit-france-italy-belgium-to-get-extra-three-months-on-deficit-and-debt/

European Commission: RAPID: MEMO/14/2226: Commission Opinions on the 2015 Draft Budgetary Plans http://europa.eu/rapid/press-release_MEMO-14-2226_en.htm

ESO: Background information: The EU's economic governance explained http://www.europeansources.info/record/memo-the-eus-economic-governance-explained-2/

ESO: Background information: EU likely to approve French, Italian 2015 budgets http://www.europeansources.info/record/statement-by-vice-president-katainen-on-the-draft-budgetary-plans-eu-likely-to-approve-french-italian-2015-budgets/

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