Archived on 04/10/2011.
Following a recommendation by the Commission, the Council can issue an "early warning" to a Member State before an excessive deficit has occurred.
It does so if it identifies a significant divergence from the medium-term budgetary objective (MTO) or the adjustment path towards the MTO with a view to preventing the occurrence of an excessive deficit. The early warning recommendation asks the Member State concerned to take the necessary adjustment measures to prevent that occurring.
The Commission policy advice, which has been introduced by the 2005 reform of the SGP, allows the Commission to address directly a Member State in a forward-looking manner on the broad implications of its fiscal policies. Its broad scope is meant to allow in particular addressing the links between budgetary consolidation and structural reform including quality and long-term sustainability of public finances, and the use of fiscal policy in countering macroeconomic imbalances
|Commission recommendation to the Council to address an early warning||30/01/2002||30/01/2002
|Council Recommendation with a view to giving early warning in order to prevent the occurrence of an excessive deficit||21/01/2003|
|Council Decision to close an early warning procedure||12/02/2002||12/02/2002||
|Commission Recommendation providing a policy advice on the economic and budgetary policy||28/05/2008||