Europees Hof spreekt zich uit over Stabiliteitspact (en)

The Commission welcomes the ruling by the European Court of Justice since it confirms the essential role of the Stability and Growth Pact Regulations in the EU budgetary surveillance process. In particular, the Court ruling confirms the Commission's view as to the respective roles of the Commission and the Council in the application of the Stability and Growth Pact making thereby budgetary policy coordination more transparent and more predictable in the future.

The Commission will study carefully the full decision of the Court before making more detailed comments or proceeding in any other action. As the ruling states, the Council's conclusions of 25 November are thereby annulled. The situation prevailing at the moment is the one of the 24 November. The Council recommendations under Article 104(7) adopted for Germany and for France remain the only legal text valid. The Commission in cooperation with the Council will consider how to ensure a satisfactory resolution of the budgetary problems of these two member states within the framework of the Stability and Growth Pact.

In the Commission's view, the Court ruling also confirms what was stressed by the Intergovernmental Conference in its declaration on the SGP, namely that a rules-based system is the best guarantee for commitments to be enforced and for all Member States to be treated equally. As already announced on the occasion of the publication of the Commission Communication on the EU Public Finances in 2004, the Commission will therefore proceed in its consultations with the Council and the ECB, with the objective to formulating more specific proposals for "strengthening and clarifying the implementation of the Stability and Growth Pact" and for improving economic governance in the Union in general and the euro area in particular.