European Commission 6 July 2010, Proposal for a Council Decision on the existence of an excessive deficit in Bulgaria

EN EN EN EN EN EUROPEAN COMMISSION Brussels, 6.7.2010 SEC(2010) 882 final Proposal for a COUNCIL DECISION on the existence of an excessive deficit in Bulgaria EN 2 EN EXPLANATORY MEMORANDUM 1. THE APPLICATION OF THE STABILITY AND GROWTH PACT IN THE CURRENT CRISIS SITUATION Many EU countries are presently facing general government deficits above the 3% of GDP reference value set in the Treaty.