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Origin: Treaty of Maastricht.
Protocol annexed to the Treaty establishing the European Community.
THE HIGH CONTRACTING PARTIES,
DESIRING to lay down the details of the excessive deficit procedure referred to in Article 104 of the Treaty establishing the European Community,
HAVE AGREED upon the following provisions, which shall be annexed to the Treaty establishing the European Community.
The reference values referred to in Article 104(2) of this Treaty are:
In Article 104 of this Treaty and in this Protocol:
In order to ensure the effectiveness of the excessive deficit procedure, the governments of the Member States shall be responsible under this procedure for the deficits of general government as defined in the first indent of Article 2. The Member States shall ensure that national procedures in the budgetary area enable them to meet their obligations in this area deriving from this Treaty. The Member States shall report their planned and actual deficits and the levels of their debt promptly and regularly to the Commission.
The statistical data to be used for the application of this Protocol shall be provided by the Commission.
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