EC on the existence of an excessive deficit in Greece - Main contents

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dossier	COM(2017)380 - Abrogation of Decision 2009/415/EC on the existence of an excessive deficit in Greece.
document	COM(2017)380
date	September 25, 2017

annexed to the Treaty establishing the European Community (OJ L 145, 10.6.2009, p. 1).

(10) In line with the ‘Specifications on the implementation of the Stability and Growth Pact and Guidelines on the format and content of Stability and Convergence Programmes’ as agreed by the Economic and Financial Committee (EFC) on 15 May 2017. See: http://data.consilium.europa.eu/doc/document/ST-9344-2017-INIT/en/pdf.

(11) Based on the data provided by Eurostat, the general government primary balance reached 3,9 % of GDP in 2016. In terms of the definition set out in the Programme, the primary balance stood at 4,2 % of GDP. The definition set out in the Programme excludes the one-off cost of bank recapitalisations, migration-related expenditure net of Union transfers, transfers related to decisions of the Member States whose currency is the euro regarding income of euro area national central banks (SMP and ANFA equivalent profits) and part of the privatisation proceeds, but includes the change of the stock of outstanding unprocessed tax refunds.

(12) The debt-to-GDP ratio in 2008 has been revised up from the initially published value of 94,6 % of GDP due to statistical revisions affecting both general government debt and GDP.