Excessive deficit procedures - overview

Excessive deficit procedures - overview

This is an overview of the current situation concerning the ongoing excessive deficit procedures, as well as documentation on the closed procedures.

Launching an Excessive Deficit Procedure

Launching an Excessive Deficit Procedure

The Excessive Deficit Procedure (EDP) follows a step-by-step procedure that is outlined in detail under Art. 126 of the Treaty.

Assessment of effective action

Assessment of effective action

Countries in EDP are given a deadline of six months (or three for a serious breach) to comply with recommendations that provide them with a concrete path for correcting their excessive deficit within a set timeframe.

Stepping up or abrogating the EDP

Stepping up or abrogating the EDP

The EDP will be stepped up for Member States for which the assessment shows that they have failed to take effective action to correct the excessive deficit in time. This means that they will receive revised recommendations, which may include a new timeline to address the excessive deficit.

Excessive Deficit Procedure under the Two Pack regulation

Excessive Deficit Procedure under the Two Pack regulation

The Two Pack regulation, which entered into force on May 30, 2013, includes specific provisions on closer monitoring of euro area Member States in Excessive Deficit Procedure (EDP).

Legal Basis and related stages

Legal Basis and related stages

Ongoing Excessive Deficit Procedures

Ongoing Excessive Deficit Procedures

  • France
  • Greece
  • Spain
  • UK