Press Release: Council closes excessive deficit procedures for Belgium, Czech Republic, Denmark, Netherlands, Austria and Slovakia

The Council of the European Union on the 20 June 2014 closed excessive deficit procedures for Belgium, the Czech Republic, Denmark, the Netherlands, Austria and Slovakia, confirming that these countries have reduced their deficits below 3% of GDP, the EU's reference value for government deficits.

It adopted decisions abrogating previous Council decisions on the existence of excessive deficits in these six countries.

As a consequence, 11 of the EU's 28 member states will remain subject to the excessive deficit procedure, down from 24 during a 12 month period in 2010-11.

ESO: Background information: Commission takes steps under the Excessive Deficit Procedure (EDP) http://www.europeansources.info/record/memo-commission-takes-steps-under-the-excessive-deficit-procedure-edp/

European Commission: RAPID: SPEECH/14/484: Speech by Vice-President Olli Rehn at the ECOFIN Press Conference http://europa.eu/rapid/press-release_SPEECH-14-484_en.pdf

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