28.6.2014   

EN

Official Journal of the European Union

L 190/73

(1)

On 2 December 2009, following a recommendation from the Commission, the Council decided, in Council Decision 2010/287/EU (1), that an excessive deficit existed in the Netherlands. The Council noted that the general government deficit planned for 2009 was 4,8 % of GDP, thus above the 3 %-of-GDP Treaty reference value while the general government gross debt was planned to reach 59,7 % of GDP in 2009, thus below the 60 %-of-GDP Treaty reference value. The general government deficit and debt for 2009 were subsequently revised to 5,6 % and 60,8 % of GDP, respectively.

(2)

On 2 December 2009, in accordance with Article 126(7) of the Treaty and Article 3(4) of Council Regulation (EC) No 1467/97 (2), the Council, based on a recommendation from the Commission, addressed a recommendation to the Netherlands with a view to bringing the excessive deficit situation to an end by 2013 at the latest. That Council recommendation was made public.

(3)

On 21 June 2013, the Council considered that the Netherlands had taken effective action in compliance with Council recommendation of 2 December 2009 under Article 126(7) of the Treaty and that unexpected adverse economic events with major unfavourable consequences for government finances had occurred after the adoption of the original recommendation. Therefore, the Council, following a recommendation from the Commission, considered that the conditions foreseen in Article 3(5) of Regulation (EC) No 1467/97 were fulfilled and issued a new recommendation to the Netherlands under Article 126(7) of the Treaty, with a view to bringing the excessive deficit situation to an end by 2014. That new Council recommendation was made public.

(4)

In accordance with Article 4 of the Protocol on the excessive deficit procedure annexed to the Treaties, the Commission provides the data for the implementation of the procedure. As part of the application of that Protocol, Member States are to notify data on government deficits and debt and other associated variables twice a year, namely before 1 April and before 1 October, in accordance with Article 3 of Council Regulation (EC) No 479/2009 (3).

(5)

When considering whether a decision on the existence of an excessive deficit ought to be abrogated, the Council is to take a decision on the basis of notified data. Moreover, a decision on the existence of an excessive deficit should be abrogated only if the Commission forecasts indicate that the deficit will not exceed the 3 %-of-GDP Treaty reference value over the forecast horizon (4).

(6)

Based on data provided by the Commission (Eurostat) in accordance with Article 14 of Regulation (EC) No 479/2009, following the notification by the Netherlands before 1 April 2014, the 2014 stability programme and the Commission services 2014 spring forecast the following conclusions are justified:

(7)

Starting from 2014, which is the year following the correction of the excessive deficit, the Netherlands is subject to the preventive arm of the Stability and Growth Pact and should progress towards its MTO at an appropriate pace, including by respecting the expenditure benchmark, and make sufficient progress towards compliance with the debt criterion in accordance with Article 2(1a) of Regulation (EC) No 1467/97.

(8)

In accordance with Article 126(12) of the Treaty, a Council Decision on the existence of an excessive deficit is to be abrogated when the excessive deficit in the Member State concerned has, in the view of the Council, been corrected.

(9)

In the view of the Council, the excessive deficit in the Netherlands has been corrected and Decision 2010/287/EU should therefore be abrogated,