Introductory text

United Kingdom

Council Decision

of 13 July 2009

amending Decision 2009/290/EC of 20 January 2009 providing Community medium-term financial assistance for Latvia

(2009/592/EC)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty establishing the European Community,

Having regard to Council Regulation (EC) No 332/2002 of 18 February 2002 establishing a facility providing medium-term financial assistance for Member States balances of payments^f1 and in particular Article 5, second subparagraph, in conjunction with Article 8 thereof,

Having regard to the proposal from the Commission made after consulting the Economic and Financial Committee (EFC),

Whereas:

(1)

By Decision 2009/289/EC^f2, the Council decided to grant mutual assistance to Latvia. By Decision 2009/290/EC^f3, the Council decided to provide medium-term financial assistance for Latvia.

(2)

The scope and intensity of the financial crisis affecting Latvia calls for a revision of the economic policy conditions foreseen for the disbursement of the instalments of the Community financial assistance with a view to taking into account the fiscal effects entailed by the significant reduction of the GDP.

(3)

Decision 2009/290/EC should therefore be amended accordingly,

HAS ADOPTED THIS DECISION:

Annotations

Footnotes

f1: OJ L 53, 23.2.2002, p. 1.
f2: OJ L 79, 25.3.2009, p. 37.
f3: OJ L 79, 25.3.2009, p. 39.