council decis juli exist excess deficit hungari ec council european union regard treati establish european commun articl thereof regard recommend commiss regard observ made hungari articl treati member state avoid excess govern deficit appli member state derog case countri join eu stabil growth pact base object sound govern financ mean strengthen condit price stabil strong sustain growth conduc employ creation excess deficit procedur articl decis exist excess deficit protocol excess deficit procedur annex treati set provis relat implement excess deficit procedur council regul ec novemb applic protocol excess deficit procedur annex treati establish european commun lai detail rule definit applic provis protocol articl treati requir commiss address opinion council commiss consid excess deficit member state exist occur examin relev factor account report accord articl regard opinion econom financi committe accord articl commiss conclud opinion june exist excess deficit hungari articl treati lai council observ member state concern make decid assess excess deficit exist assess lead conclus gener govern deficit reach gdp hungari gdp treati refer excess gener govern deficit refer result unusu event control hungarian author result sever econom downturn sens stabil growth pact gener govern deficit remain gdp commiss spring forecast deficit project reach gdp converg programm hungari expect deficit gdp debt ratio remain gdp treati refer adopt decison articl assess excess deficit exist hungari articl decis address republ hungari brussel juli council presid zalm oj regul amend commiss regul ec oj