resolut european council stabil growth pact amsterdam june meet madrid decemb european council confirm crucial import secur budgetari disciplin stage econom monetari union emu florenc month european council reiter view dublin decemb reach agreement main element stabil growth pact stage emu member state avoid excess gener govern deficit clear treati oblig european council underlin import safeguard sound govern financ mean strengthen condit price stabil strong sustain growth conduc employ creation ensur nation budgetari polici support stabil orient monetari polici adher object sound budgetari posit close balanc surplu member state deal normal cyclic fluctuat keep govern deficit refer gdp ii meet dublin decemb european council request prepar stabil growth pact achiev accord principl procedur treati stabil growth pact requir particip stage emu group date member state remain respons nation budgetari polici subject provis treati measur order meet respons accord provis iii stabil growth pact prevent deterr consist resolut council regul strengthen surveil budgetari posit surveil coordin econom polici speed clarifi implement excess deficit procedur iv european council solemnli invit parti member state council european union commiss european commun implement treati stabil growth pact strict time manner resolut firm polit guidanc parti implement stabil growth pact end european council agre guidelin member state commit respect medium term budgetari object posit close balanc surplu set stabil converg programm correct budgetari action deem meet object stabil converg programm inform indic actual expect signific diverg object invit make public initi council recommend made accord articl commit correct budgetari action deem meet object stabil converg programm receiv earli warn form council recommend issu articl launch correct budgetari adjust deem delai receiv inform indic risk excess deficit correct excess deficit quickli emerg correct complet year identif excess deficit special circumst invit make public initi recommend made accord articl commit invok benefit articl council regul speed clarifi excess deficit procedur sever recess evalu econom downturn sever member state rule refer point annual fall real gdp commiss exercis initi treati manner facilit strict time effect function stabil growth pact present delai report opinion recommend enabl council adopt decis articl articl facilit effect function earli warn system rapid launch strict applic excess deficit procedur commit prepar report articl risk excess deficit plan actual govern deficit exce refer gdp trigger procedur articl commit event commiss consid deficit exceed gdp excess opinion differ econom financi committe present write council reason posit commit request council articl make rule recommend council decis excess deficit exist articl council commit rigor time implement element stabil growth pact compet decis articl articl practic urg regard deadlin applic excess deficit procedur upper limit council act articl recommend excess deficit correct quickli emerg year identif special circumst invit impos sanction particip member state fail step bring excess deficit situat end recommend council urg requir interest bear deposit council decid impos sanction particip member state accord articl urg convert deposit fine year decis impos sanction accord articl excess deficit view council correct invit state write reason justifi decis act stage excess deficit surveil budgetari posit procedur council act commiss recommend case make public vote cast member state articl protocol oblig appli unit kingdom move stage oblig articl treati establish european commun endeavour avoid excess deficit continu appli unit kingdom