council recommend januari view give earli warn franc order prevent occurr excess deficit ec council european union regard treati establish european commun articl thereof regard council regul ec juli strengthen surveil budgetari posit surveil coordin econom polici articl thereof regard recommend commiss articl regul ec part stabil growth pact establish earli warn system alert member state earli stage make budgetari adjust prevent govern deficit excess earli warn council identifi actual expect signific diverg budgetari posit member state medium term budgetari object adjust path set member state stabil programm govern balanc resolut stabil growth pact adopt amsterdam june european council invit parti implement treati stabil growth pact strict time manner updat stabil programm franc council deliv opinion februari french author aim gdp gener govern deficit gdp project gener govern deficit rectifi gdp februari french author revis project real gdp growth gener govern deficit franc project gdp french author gdp commiss percentag point initi target set updat stabil programm commiss servic calcul half percentag point gdp total slippag gener govern deficit attribut cyclic factor remain part repres deterior cyclic adjust balanc consequ slippag french budgetari posit close balanc actual cyclic adjust term cyclic adjust deficit estim commiss servic increas gdp gdp level high ensur gener govern deficit breach gdp refer normal cyclic fluctuat draft budget present septemb project slight reduct gener govern deficit gdp context expect acceler real gdp growth broad econom polici guidelin recommend franc quot aim suffici declin deficit ensur close balanc posit achiev quot commiss calcul base french programm updat cyclic adjust budgetari deficit declin slightli take account signific downward risk surround macroeconom perspect budgetari posit foreseen draft budget level lead occurr excess deficit recoveri pronounc assum budget case slippag budget occur commiss autumn forecast project increas gener govern deficit gdp context real gdp growth acceler view element risk gener govern deficit breach gdp threshold remov diverg influenc medium term commit attain close balanc posit postpon basi inform provid french author assess made commiss council identifi signific diverg term articl council regul ec earli warn alert franc order prevent occurr excess deficit recommend french govern measur order ensur gener govern deficit breach gdp threshold adopt measur apt improv cyclic adjust budgetari posit percentag point gdp reduc risk gener govern deficit breach gdp threshold contribut resum budgetari consolid path close balanc posit continu adjust underli budgetari posit gdp year pursu subsequ year order achiev medium term budgetari posit close balanc surplu recommend address republ franc brussel januari council presid christodoulaki oj oj oj