July 26, 2024 11:05 GMT
BRIEF: EU Launches Excess Deficit Process Vs Italy And France
The EU has formally approved the launch of the Excessive Deficit Procedure against seven EU countries
MNI (BRUSSELS) - The European Union said that member states had formally approved the launch of the excessive deficit procedure against France, Italy, Belgium, Hungary, Poland, Malta and Slovakia, in line with the European Commission's decision on June 19 regarding their 2023 deficits .
Romania is already in an EDP and has been since 2020. (See MNI POLICY: EU States To Choose Easier, 7-Year Fiscal Plans)
The decisions in each case were taken on the basis of a qualified majority vote, based on population size, and excludes the member state concerned.
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