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Council Decision of 16 February 2010 amending Decision 2009/459/EC providing Community medium-term financial assistance for Romania (2010/183/EU)

EU Decision 2010/183 · Adopted 16 March 2010 · Extends to United Kingdom

Original text. legislation.gov.uk does not revise this item, so later amendments are not shown here. Changes made to it are listed under each provision when known.

X1Council Decision

of 16 February 2010

amending Decision 2009/459/EC providing Community medium-term financial assistance for Romania

(2010/183/EU)

THE COUNCIL OF THE EUROPEAN UNION,

Having regard to the Treaty on the Functioning of the European Union,

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 paymentsf1 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 2009/458/ECf2, the Council granted mutual assistance to Romania and by Decision 2009/459/ECf3, the Council provided medium-term financial assistance for Romania.

(2)

The scope and intensity of the economic recession affecting Romania calls for a revision of the economic policy conditions foreseen for the disbursement of the instalments of the financial assistance with a view to taking into account the impact of the larger-than-expected contraction of real GDP.

(3)

Decision 2009/459/EC should therefore be amended accordingly,

HAS ADOPTED THIS DECISION:

Annotations to the whole text

Editorial notes

X1

Substituted by Corrigendum to Council Decision 2010/183/EU of 16 March 2010 amending Decision 2009/459/EC providing Community medium-term financial assistance for Romania (Official Journal of the European Union L 83 of 30 March 2010).

Footnotes

f1

OJ L 53, 23.2.2002, p. 1.

f2

OJ L 150, 13.6.2009, p. 6.

f3

OJ L 150, 13.6.2009, p. 8.

Contents

  1. 1Article 1
  2. 2Article 2
  3. 3Article 3
  4. 4Article 4

1

Decision 2009/459/EC is hereby amended as follows:

  1. 1..

    in Article 3(5), point (a) shall be replaced by the following:

    1. (a)

      ‘implementing a clearly set medium-term fiscal programme so as to bring the general government deficit below the Treaty reference value of 3 % of GDP with a time-frame and a consolidation path which are consistent with the Council recommendations to Romania adopted under the excessive deficit procedure.’;

  2. 2..

    in Article 3(5), point (b) shall be replaced by the following:

    1. (b)

      ‘adopting and implementing annual budgets for 2010 and beyond, consistent with the consolidation path set out in the Supplemental Memorandum of Understanding.’.

2

This Decision shall take effect on the day of its notification.

3

This Decision is addressed to Romania.

4

This Decision shall be published in the Official Journal of the European Union.