|
|
Article: EMU: ALMUNIA PROPOSES TO APPLY STABILITY PACT TO NEW MEMBER STATES.(Brief Article)
- Article from:
- European Report
- Article date:
- May 5, 2004
CopyrightCOPYRIGHT 2004 Europolitics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The report on public finances in the six new Member States will concern Cyprus (budget deficit of 6.3% of GDP in 2003), the Czech Republic (12.9%), Hungary (5.9%), Malta (9.7%), Poland (4.1%) and Slovakia (3.6%). The other new entrants have public deficits below the 3% limit (see issue 2859). The report, drafted on the basis of Article 104.3 of the Treaty will then be submitted for an opinion to the Economic and Financial Committee (EFC). Mr Almunia explained that he will apply Treaty provisions to the new EU Member States in the same way as to the EU-15. Entry into the European Union will be considered as "a ...