This is an overview of the current situation concerning the ongoing excessive deficit procedures, as well as documentation on the closed procedures.
The Excessive Deficit Procedure (EDP) follows a step-by-step procedure that is outlined in detail under Art. 126 of the Treaty.
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.
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
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).