Recommendation for a Council Decision abrogating Decision 2010/286/EU on the existence of an excessive deficit in Italy

By Council Decision 2010/286/EU of 2 December 2009, following a recommendation from the Commission, it was decided that an excessive deficit existed in Italy. The Council noted that the general government deficit planned for 2009 was 5.3% of GDP, thus above the 3% of GDP Treaty reference value, while the general government gross debt was planned to reach 115.1% of GDP in 2009, thus above the 60% of GDP Treaty reference value.

On 2 December 2009, in accordance with Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, the Council, based on a recommendation from the Commission, addressed a recommendation to Italy with a view to bringing the excessive deficit situation to an end by 2012 at the latest.

In the view of the Council, the excessive deficit in Italy has been corrected and Decision 2010/286/EU should therefore be abrogated.

EUR-Lex: COM(2013)385: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2013:385:FIN

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

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