Press Release: Commission assesses the updated stability programmes of Belgium, Finland, France, Germany, Ireland and Italy

Having examined their respective updated multi-annual stability programmes, the European Commission concluded on 2 February 2005 that Finland and Ireland fully met the requirements of the Stability and Growth Pact whereas Belgium deserved praise for keeping its high debt on a downward path and for maintaining a budget surplus. France, Germany and Italy, the other members of the euro zone to have their programmes assessed in the same week, needed to pursue budgetary consolidation in order to reach the medium-term objective of close to balance or surplus. The Commission's recommendations on the six stability programmes as well as on five convergence programmes also assessed on 2 February 2005 (see IP/05/127) were on the agenda of the European Union Finance Ministers meeting on 17 February 2005.