The EU Council initiates Excessive Deficit Procedures against France, Italy, and others for breaching budget rules.
The European Union Council has initiated formal action against France, Italy, and five other countries for breaching budget rules, triggering the Excessive Deficit Procedures (EDP). The EU Council adopts EDP for Belgium, France, Italy, Hungary, Malta, Poland, and Slovakia due to their deficit levels exceeding the 3% GDP limit. These countries are urged to reduce spending levels to align with EU fiscal requirements.
July 26, 2024
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