Most recent decisions and updates

  • On 22 November 2017 the Commission recommended to close the excessive deficit procedure for United Kingdom. If the proposal was ratified by the Council, only two Member States would remain under the corrective arm of the Pact, down from 24 countries in 2011.

  • Further to the Commission recommendation of 12 July, on 25 September 2017 the Council closed the excessive deficit procedure for Greece.

  • Further to the Commission recommendation of 22 May, on 16 June 2017 the Council closed the excessive deficit procedures for Croatia and Portugal, confirming their deficits have dropped below the EU's 3% of GDP reference value.

  • On 22 May 2017, the Commission adopted reports for Belgium and Finland under Article 126 (3) of the Treaty on the Functioning of the European Union (TFEU), in which it reviews their compliance with the debt criterion of the Treaty. In both cases, the conclusion is that the debt criterion should be considered as currently complied with.

  • On 22 May 2017, the Commission addressed a warning to Romania on the existence of a significant deviation from the adjustment path toward the medium-term budgetary objective in 2016 and recommends the Council to adopt a recommendation for Romania to take appropriate measures in 2017 with a view to correcting this significant deviation. It is the first time that this procedure of the EU economic governance framework is applied. It gives the authorities the opportunity to take corrective action in order to avoid the opening of an excessive deficit procedure.

Overview of ongoing and closed excessive deficit procedures

Overview of ongoing excessive deficit procedures

Country

Date of the Commission report
(Art.104.3/126.3)

Council Decision on existence of excessive deficit (Art.104.6/126.6)

Current deadline for correction

France

18 February 2009

27 April 2009

2017

Spain

18 February 2009

27 April 2009

2018

United Kingdom

11 June 2008

8 July 2008

financial year 2016/17

Overview of closed excessive deficit procedures

Austria

Belgium

Bulgaria

Croatia

Czech Republic

Cyprus

Denmark

Finland

Germany

Greece

Hungary

Ireland

Italy

Latvia

Lithuania

Luxembourg

Malta

The Netherlands

Poland

Portugal

Romania Slovakia Slovenia  

No excessive deficit procedures

Estonia

Sweden