|Author (Corporate)||Council of the European Union|
|Series Title||Official Journal of the European Union|
|Series Details||L 110, Pages 58-59|
Decision adopted by the Council of the European Union on 3 April 2020, which states that there is an excessive deficit in Romania due to non-compliance with the deficit criterion.
The excessive deficit procedure (EDP) under Article TFEU provides for a Decision the existence of an excessive deficit. Protocol No. 12 on the EDP sets out further provisions relating to the implementation of the excessive deficit procedures. Council Regulation (EC) No 379/2009 lays down rules and definitions for the application of those provisions.
Should the European Commission consider than an excessive deficit in a Member State exists or may occur, it shall address an opinion to the concerned country and shall inform the Council of the European Union accordingly. Having taken into account its report and having regard to the opinion of the Economic and Financial Committee, the Commission concluded that an excessive deficit existed in Romania. On 4 March 2020, the Commission addressed such an opinion to Romania and informed the Council accordingly.
The proposed Decision for the recognition of an excessive deficit in Romania was put forward by the European Commission on 4 March 2020 and adopted by the Council of the European Union on 3 April 2020.
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Economic Governance | Situation|
|Keywords||Stability and Growth Pact [SGP]
|Countries / Regions||Romania|
|International Organisations||European Union [EU]|