Local view for "http://purl.org/linkedpolitics/eu/plenary/2002-03-13-Speech-3-302"
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"en.20020313.11.3-302"2
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"Mr President, I shall now answer. On 12 February 2002, the Ecofin Council studied the updated stability programmes put forward by Germany and Portugal. In this regard, the Council also studied, in a similar fashion, the Commission’s recommendations aimed at forewarning, using the famous early warning method, these Member States so that they could prevent an excessive public deficit.
With regard to the concerns expressed in the Commission’s recommendations on the worsening of this deficit, both the German and the Portuguese Governments committed themselves to ensuring that the reference value of 3% of GDP for public deficit would not rise again in 2002. They also committed themselves to the very strict control of budgetary development in 2002 and to avoid any measure that could worsen the budget deficit and, naturally, to taking all the steps necessary to return, by 2004 at the latest, to a budgetary position closer to a balance, in the case of Germany, or an actual balance, in the case of Portugal.
The Council and the Commission considered that such commitments from the German and Portuguese Governments responded to the basis of the concerns expressed in the Commission’s recommendations for which they would be forewarned. Consequently, the Council rejected the Commission’s recommendations and has opted to conclude the process. The Council’s motives were given in two declarations on the budgetary situation of these two Member States, which were made public."@en1
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