Legal provisions of SEC(2005)194 - Recommendation for a Council Decision giving notice to Greece, in accordance with Article 104(9) of the EC Treaty, to take measures for the deficit reduction judged necessary in order to remedy the situation of excessive deficit - Main contents
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| dossier | SEC(2005)194 - Recommendation for a Council Decision giving notice to Greece, in accordance with Article 104(9) of the EC Treaty, to take ... |
|---|---|
| document | SEC(2005)194  |
| date | February 17, 2005 |
Article 1
| (i) | a rigorous implementation of the 2005 budget as approved by its Parliament; |
| (ii) | implementing in 2006 adjustment measures of a permanent nature leading to a correction in the deficit of at least 0,6 of a percentage point of GDP. |
2. Greece shall further pursue the efforts to identify and control factors other than net borrowing, which contribute to the change in debt levels, with a view to ensuring that the government gross debt ratio diminishes sufficiently and approaches the reference value at a satisfactory pace in line with the correction of the excessive deficit.
3. Greece shall further pursue the efforts to improve the collection and processing of general government data, notably by enhancing the mechanisms that ensure the prompt and correct supply of the general government data required by the existing legal framework.
Article 2
2. Greece shall submit reports by 31 October 2005, 30 April 2006 and 31 October 2006, examining progress made in respecting the recommendations of this Decision. These reports shall be analysed by the Commission and the Council with a view to assessing compliance by Greece with this Decision.