Recommendation for a Council Decision abrogating Decision 2010/407/EU on the existence of an excessive deficit in Denmark

By Council Decision 2010/407/EU of 13 July 2010, following a recommendation from the Commission, it was decided that an excessive deficit existed in Denmark. The Council noted that according to the data notified by the Danish authorities in April 2010, the general government deficit planned for 2010 was 5.4% of GDP, thus above the 3% of GDP Treaty reference value. The general government gross debt was expected at 45.1% of GDP in 2010, well below the 60% of GDP Treaty reference value.

On 13 July 2010, 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 Denmark 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 in 2014, which is the year following the correction of the excessive deficit, Denmark 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 Denmark has been corrected and Decision 2010/407/EU should therefore be abrogated.

• Primary Source

EUR-Lex: COM(2014)434: Follow the progress of this recommendation through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2014:434: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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