| Author (Corporate) | European Commission |
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| Series Title | COM |
| Series Details | (2018) 433 |
| Publication Date | 22/06/2018 |
| Content Type | Policy-making |
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Summary: The European Commission adopted on 23 May 2018 a proposal for a Council Recommendation that the excessive deficit procedure for France is closed, confirming that it has reduced its deficit below the EU's 3% of GDP reference value. The Council of the European Union adopted the Recommendation on 22 June 2018, thereby abrogating its Decision 2009/414/EC of April 2009 on the existence of an excessive deficit in France. Further information: Member states are required by article 126 of the Treaty on the Functioning of the European Union (TFEU) to avoid excessive government deficits. The procedure is used to support a return to sound fiscal positions. France was subject to an excessive deficit procedure since April 2009, when the Council called for its deficit to be corrected by 2012. That deadline was extended three times. |
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| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2018:433:FIN |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, France |
