council decis februari give notic greec accord articl ec treati measur deficit reduct judg order remedi situat excess deficit ec council european union regard treati establish european commun articl thereof regard recommend commiss articl treati member state avoid excess govern deficit stabil growth pact base object sound govern financ mean strengthen condit price stabil strong sustain growth conduc employ creation stabil growth pact includ council regul ec juli speed clarifi implement excess deficit procedur resolut european council june stabil growth pact amsterdam solemnli invit parti member state council commiss implement treati stabil growth pact strict time manner council decis ec juli decid accord articl treati excess deficit exist greec accord articl treati articl regul ec council address recommend greec juli establish deadlin novemb greec measur bring exist excess deficit end latest adopt decis ec greek govern data notifi significantli revis septemb deficit figur rose gdp notifi commiss autumn forecast gener govern deficit reach gdp compar project spring measur approv greek parliament budget ensur gener govern deficit brought gdp commiss autumn forecast project growth rate measur includ greek budget project lead nomin deficit gdp threshold council decis ec establish accord articl treati greec effect action respons council recommend articl juli articl member state persist fail put practic recommend council council decid give notic member state measur deficit reduct time limit council consid deadlin set council recommend articl juli base present commiss forecast met articl regul ec council decis give notic month council decis establish member state question effect action accord articl factor account determin recommend includ notic firstli estim deficit turn substanti higher expect recommend articl adopt overrun offset restrain measur implement result entir fiscal effort made order correct excess deficit latest call council recommend articl juli place current year commiss autumn forecast fulli implement measur budget adopt greek parliament lead deficit reduct percentag point gdp repres consider improv fiscal posit insuffici bring nomin deficit threshold final addit adjust higher number uncertainti macroeconom scenario fiscal outturn materialis take element account total adjust correct excess deficit higher percentag point gdp requir addit measur perman natur lead correct deficit percentag point gdp effort singl year prove econom costli light factor appear deadlin set juli elimin excess deficit greec extend year basi growth rate commiss autumn forecast uncertainti macroeconom budgetari outlook rigor implement budget measur perman natur lead correct deficit percentag point gdp result deficit gdp bring gdp commiss autumn forecast project debt ratio stabilis gdp fall margin refer treati contribut debt level factor net borrow high greek author continu pai due attent factor order reduc debt ratio satisfactori pace consist project gener govern balanc nomin gdp growth view signific statist revis order adequ monitor situat public financ greec effort need improv collect process gener govern data requir exist legal framework notabl enhanc mechan ensur prompt correct suppli data greec submit report commiss march outlin measur implement order compli decis report includ descript measur implement reduc budget deficit assess implic deficit turn disclos excess deficit procedur notif march descript uncertainti macroeconom scenario greec includ report precis descript measur implement reduc deficit commiss council examin report view assess complianc decis subparagraph articl treati council request greec submit report accord specif timet order examin adjust effort made order compli decis greec submit report usual deadlin report govern deficit debt provid articl council regul ec novemb applic protocol excess deficit procedur annex treati establish european commun order enabl commiss assess complianc decis view council adjust measur secur last improv gener govern balanc order ensur sustain budgetari consolid medium term posit govern financ close balanc surplu prescrib stabil growth pact reduct cyclic adjust deficit percentag point gdp year correct excess deficit adopt decis articl greec put end present excess deficit situat rapidli latest rigor implement budget approv parliament ii implement adjust measur perman natur lead correct deficit percentag point gdp greec pursu effort identifi control factor net borrow contribut chang debt level view ensur govern gross debt ratio diminish suffici approach refer satisfactori pace line correct excess deficit greec pursu effort improv collect process gener govern data notabl enhanc mechan ensur prompt correct suppli gener govern data requir exist legal framework articl greec submit march latest report outlin decis respect recommend decis commiss council analys report view assess complianc greec decis greec submit report octob april octob examin progress made respect recommend decis report analys commiss council view assess complianc greec decis articl council urg greec measur ensur budgetari consolid medium term posit govern financ close balanc surplu sustain reduct cyclic adjust deficit percentag point gdp year excess deficit correct articl greec effect action compli decis march articl decis address hellen republ brussel februari council presid juncker oj oj oj oj oj