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Extracts from the press conference by Olli Rehn on the annual assessment of the stability and convergence programmes of ten EU Member States

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On 24/03/2010, the European Commission examined the updated stability and convergence programmes of the Czech Republic, Denmark, Hungary, Lithuania, Luxembourg, Latvia, Malta, Poland, Romania and Slovenia, against the background of the economic and financial crisis which has led to a sharp deterioration of public finances since 2009 and triggered the Council decisions to open Excess Deficit Procedures (EDP) for a large majority of Member States. Regarding the budgetary targets set out in the programmes, the growth assumptions underlying these projections were in several cases optimistic especially in outer years, while the budgetary consolidation strategy is often not sufficiently backed up by concrete measures from 2011 onwards, Olli Rehn, Member of the EC in charge of Economic and Monetary Affairs, told journalists at his press conference.
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Type: EbS   Reference: 69288   Date: 24/03/2010   Duration: 00:03:24
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