11th November 2009

Excessive Deficit Procedure steps: the Stability and Growth Pact as the anchor for fiscal exit strategies

Under the budgetary surveillance powers conferred by the EU Treaty, the European Commission today proposed to the Council to set 2013 as the deadline for the correction of the budget deficits in Austria, the Czech Republic, Germany, Slovakia, Slovenia, the Netherlands and Portugal. For Belgium and Italy, which will also have a deficit above 3% in 2009, the comparatively limited size of the deficits and the existence of high debt ratios calls for an earlier deadline of 2012. [more]

Members of the American Chamber of Commerce in the Czech Republic