The European Commission has proposed initiating the Excessive Deficit Procedure (EDP) for France and six other EU countries due to their excessive budget deficits.
About Excessive Deficit Procedure:
- The EDP aims to correct excessive deficit and/or debt levels in EU countries by enforcing adherence to appropriate policies.
- This procedure can be launched against any EU country that does not respect the Stability and Growth Pact (SGP), which governs fiscal policy coordination among EU nations, particularly if they breach the deficit threshold or violate the debt rule.
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