Communication from the Commission to the Council – Follow-up to the Council Decision 2011/734/EU of 12 July 2011 addressed to Greece, with a view to reinforcing and deepening fiscal surveillance and giving notice to Greece to take measures for the deficit reduction judged necessary to remedy the situation of excessive deficit (March 2012)

This quarterly Communication assesses the measures implemented and planned by Greece to comply with Council Decision 2011/734/EU of 12 July 2011. The action taken until end-September 2011 was assessed in the Communication dated 26 October 2011.

Together with the Commission staff's Compliance Report, prepared in liaison with the ECB, the Communication also contributes to the assessment of compliance with the MEFP and the MoU, in the context of the loan facility agreement between Greece and other euro-area Member States.

This assessment is based on the mission conducted by the Commission services together with IMF and ECB staff on 18 January-10 February 2012 in the context of the economic adjustment programme and the quarterly report transmitted by the Greek Ministry of Finance on 2 March 2012.

EUR-Lex: COM(2012)117: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2012:117:FIN

European Commission: COM(2012)116: Recommendation for a Council Decision amending Decision 2011/734/EU addressed to Greece with a view to reinforcing and deepening fiscal surveillance and giving notice to Greece to take measures for the deficit reduction judged necessary to remedy the situation of excessive deficit http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=COM:2012:0116:FIN:EN:PDF

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