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European Semester Spring Package: Commission provides guidance and decisions under the Stability and Growth Pact

As part of the European Semester Spring Package and based on the assessment of the 2019 Stability and Convergence Programmes, on 5 June the Commission recommended that the Excessive Deficit Procedure (EDP) be abrogated for Spain.

date:  06/06/2019

See alsoEuropean Semester 2019 Spring Package: C...

As part of the European Semester Spring Package and based on the assessment of the 2019 Stability and Convergence Programmes, on 5 June the Commission recommended that the Excessive Deficit Procedure (EDP) be abrogated for Spain. Once the Council takes this decision, all the excessive deficit procedures dating from the crisis will be closed. In 2011, 24 Member States were in the corrective arm of the Pact. The Commission also adopted reports for Belgium, France, Italy and Cyprus under Article 126(3) of the Treaty on the Functioning of the EU (TFEU), in which it reviews their compliance with the deficit and debt criteria of the Treaty. For Italy, the report concludes that a debt-based EDP is warranted. The Commission also addressed a warning to Hungary and Romania that a significant deviation was observed in 2018 and recommends to the Council to recommend they correct the significant observed deviation. Finally, the Commission adopted today the third report for Greece under the Enhanced Surveillance framework that was put in place following the conclusion of the European Stability Mechanism stability support programme.