# Regulation (EU) No 1176/2011 of the European Parliament and of the Council of 16 November 2011 on the prevention and correction of macroeconomic imbalances, Article 2: Definitions

Extent: E+W+S+N.I.

For the purposes of this Regulation:
(1) ‘imbalances’ means any trend giving rise to macroeconomic developments which are adversely affecting, or have the potential adversely to affect, the proper functioning of the economy of a Member State or of the economic and monetary union, or of the Union as a whole;
(2) ‘excessive imbalances’ means severe imbalances, including imbalances that jeopardise or risks jeopardising the proper functioning of the economic and monetary union.

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Source: https://www.legislation.gov.uk/eur/2011/1176/article/2 (the official version)
Page: https://openlegislation.uk/eu-regulation-2011-1176/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.