council decis june exist excess deficit netherland ec council european union regard treati establish european commun articl thereof regard recommend commiss regard observ made netherland 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 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 commiss address opinion netherland council examin relev factor account report accord articl regard opinion econom financi committe accord articl commiss conclud opinion exist excess deficit netherland articl treati lai council observ member state concern make decid assess excess deficit exist assess lead conclus gener govern deficit reach gdp netherland breach gdp treati refer occur spite substanti save measur author commiss breach gdp threshold due impact econom slowdown excess gener govern deficit gdp refer result unusu event control dutch author result sever econom downturn sens stabil growth pact defin fall real gdp take account addit measur decid author april includ commiss spring forecast risk gener govern deficit gdp suggest breach gdp treati refer deficit temporari final debt ratio project reach gdp commiss spring forecast continu gdp treati refer year adopt decis articl assess excess deficit exist netherland articl decis address kingdom netherland luxembourg june council presid mccreevi oj regul amend commiss regul ec oj