Memo: Commission takes steps under the Excessive Deficit Procedure (EDP)

On 2 May 2014, the European Commission recommended that the EU Council of Ministers close the EDP for six countries: Austria, Belgium, Czech Republic, Denmark, the Netherlands and Slovakia.

The Commission also published a report analysing the reasons for a planned and forecast breach of the Treaty reference value for public debt (60% of GDP) in the case of Finland. It has concluded that the planned breach is explained by Finland's support to the mechanisms set up to safeguard financial stability in the euro area. As such, the debt criterion is fulfilled and an EDP should therefore not be opened.

In addition, the Commission concluded that two countries, Poland and Croatia, have taken effective action in response to the Council Recommendations to those countries under the EDP.