Author (Corporate) | European Commission |
---|---|
Series Title | COM |
Series Details | (2013) 914 final (10.12.13) |
Publication Date | 10/12/2013 |
Content Type | Policy-making |
According to Article 126 of the Treaty on the Functioning of the European Union (TFEU) Member States shall avoid excessive government deficits. The Stability and Growth Pact is based on the objective of sound government finances as a means of strengthening the conditions for price stability and for strong sustainable growth conducive to employment creation. The Council decided, in accordance with Article 126(6) TFEU, that an excessive deficit existed in Croatia. In accordance with Article 126(7) TFEU and Article 3 of Council Regulation (EC) No 1467/97 on speeding up and clarifying the implementation of the excessive deficit procedure (EDP), the Council is required to address recommendations to the Member State concerned with a view to bringing the situation of an excessive deficit to an end within a given period. The recommendation has to establish a maximum deadline of six months for effective action to be taken by the Member State concerned to correct the excessive deficit. |
|
Source Link | http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2013:914:FIN |
Related Links |
|
Countries / Regions | Croatia |
![](https://www.europeansources.info/wp-content/uploads/esologo2.png)