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Meeting of EU Finance Ministers in Luxembourg

- The ECOFIN Council has taken steps regarding the Excessive Deficit Procedure, the European Semester and EFSM loans.

EU Finance Ministers adopted the recommendations which the Commission had proposed on 29 May under the Excessive Deficit Procedure (EDP) and approved country-specific recommendations under this year's European Semester. The Council also extended the maturities of EFSM loans to Ireland and Portugal. Moreover, euro area Member States adopted a recommendation in favour of a proposal to allow Latvia to join the euro area in 2014.

Excessive Deficit Procedures (EDP)

>> Excessive deficit procedure: Council extends deadlines for Spain, France, Netherlands, Poland, Portugal and Sloveniapdf

>> Council closes excessive deficit procedures for Italy, Latvia, Lithuania, Hungary and Romaniapdf

>> Council steps up excessive deficit procedure for Belgiumpdf

>> Council reopens excessive deficit procedure for Maltapdf

Country-specific recommendations

>> Country-specific recommendations on economic and fiscal policiespdf

EFSM loans

>> Council extends maturities of EFSM loans to Ireland, Portugalpdf

The Euro for Latvia

>> Euro area countries recommend Latvia euro accessionpdf

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