Erwägungsgrund 1 32015D1410

Article 126 of the Treaty on the Functioning of the European Union („TFEU“) establishes that Member States are to avoid excessive government deficits and sets out the excessive deficit procedure to that effect. The Stability and Growth Pact, which in its corrective arm implements the excessive deficit procedure, provides the framework supporting government policies for a prompt return to sound budgetary positions taking account of the economic situation.