Court overturns finance ministers

In a judgment announced 13 July 2004 the European Court of Justice has annulled a decision by EU Finance Ministers in the Council of the European Union to suspend action against Germany and France over budget deficits, in a case brought by the European Commission. In the judgment the Court of Justice clarifies the powers of the European Commission and the Council of the European Union relating to the Excessive Deficit Procedure.

http://curia.europa.eu/en/actu/communiques/cp04/aff/cp040057en.pdf http://curia.europa.eu/en/actu/communiques/cp04/aff/cp040057en.pdf

http://ec.europa.eu/comm/economy_finance/about/activities/sgp/edp_en.htm http://ec.europa.eu/comm/economy_finance/about/activities/sgp/edp_en.htm

http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/04/330&format=HTML&aged=0&language=EN&guiLanguage=en http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/04/330&format=HTML&aged=0&language=EN&guiLanguage=en

http://news.bbc.co.uk/1/hi/business/3836291.stm http://news.bbc.co.uk/1/hi/business/3836291.stm

ESO: In Focus: Stability and Growth Pact: Ecofin Council decides not to act on the basis of European Commission recommendations regarding France and Germany, November 2003 http://www.europeansources.info/record/stability-and-growth-pact-ecofin-council-decides-not-to-act-on-the-basis-of-european-commission-recommendations-regarding-france-and-germany-november-2003/

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