Press Release: Commission presents reports under the excessive deficit procedure for Lithuania, Malta, Poland and Romania

In view of reported budget deficits of more than 3% in 2008, on 13 May the European Commission adopted reports under the corrective arm of the Stability and Growth Pact for Lithuania, Malta, Poland and Romania. Taking due account of the economic background and all other relevant factors, it examined whether the deficit remained close to the reference value and the excess was exceptional and temporary. The Commission concluded that, in all cases, the deficit criterion in the Treaty was not fulfilled. In February, the Commission had already initiated excessive deficit procedures for France, Greece, Ireland, Latvia and Spain.