Recommendation for a Council Decision abrogating Decision 2010/284/EU on the existence of an excessive deficit in the Czech Republic

By Council Decision 2010/284/EU of 2 December 2009, following a recommendation from the Commission, it was decided that an excessive deficit existed in the Czech Republic. The Council noted that the general government deficit in the Czech Republic was planned to reach 6.6% of GDP in 2009, thus above the 3% of GDP Treaty reference value while the general government gross debt was expected to reach 35.5% of GDP in 2009, well below the 60% of GDP reference value.

On 2 December 2009, in accordance with Article 126(7) TFEU and Article 3(4) of Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure, the Council, based on a recommendation from the Commission, addressed a recommendation to the Czech Republic with a view to bringing the excessive deficit situation to an end by 2013 at the latest. The recommendation was made public.

The Council recalls that, starting from 2014, which is the year following the correction of the excessive deficit, the Czech Republic is subject to the preventive arm of the Stability and Growth Pact and should maintain its structural balance at or above its medium-term objective.

In the view of the Council, the excessive deficit in the Czech Republic has been corrected and Decision 2010/284/EU should therefore be abrogated.

• Primary Source

EUR-Lex: COM(2014)436: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:436:FIN

ESO: Background information: Commission takes steps under the Excessive Deficit Procedure (EDP) http://www.europeansources.info/record/memo-commission-takes-steps-under-the-excessive-deficit-procedure-edp/

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