Decision 2009/592 - 2009/592/EC: Council Decision of 13 July 2009 amending Decision 2009/290/EC providing Community medium-term financial assistance for Latvia

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Contents

  1. Current status
  2. Key information
  3. Key dates
  4. Legislative text
  5. Original proposal
  6. Sources and disclaimer
  7. Full version
  8. EU Monitor

1.

Current status

This decision has been published on August  4, 2009 and should have been implemented in national regulation on the same day at the latest.

2.

Key information

official title

2009/592/EC: Council Decision of 13 July 2009 amending Decision 2009/290/EC of 20 January 2009 providing Community medium-term financial assistance for Latvia
 
Legal instrument Decision
Number legal act Decision 2009/592
Original proposal COM(2009)365 EN
CELEX number i 32009D0592

3.

Key dates

Document 13-07-2009
Publication in Official Journal 04-08-2009; OJ L 202 p. 52-52
Effect 04-08-2009; Takes effect Date notif.
End of validity 31-12-9999
Notification 04-08-2009; {titleAndReference.draft.disclaimer.new|http://publications.europa.eu/resource/authority/fd_365/titleAndReference.draft.disclaimer.new}

4.

Legislative text

4.8.2009   

EN

Official Journal of the European Union

L 202/52
 

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 (1) 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 (2), the Council decided to grant mutual assistance to Latvia. By Decision 2009/290/EC (3), 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:

Article 1

Decision 2009/290/EC is hereby amended as follows:

 

1.

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

 

‘(a)

implementation of 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 timeframe and consolidation path consistent with the Council recommendation(s) to Latvia adopted under the excessive deficit procedure;’;
 

2.

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

 

‘(b)

implementation of the budget for 2009 and adoption of the budget for 2010 with sustainable measures consistent with the consolidation path;’.

Article 2

This Decision is addressed to the Republic of Latvia.

Article 3

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

Done at Brussels, 13 July 2009.

For the Council

The President

  • E. 
    ERLANDSSON
 
 

More

This text has been adopted from EUR-Lex.

5.

Original proposal

 

6.

Sources and disclaimer

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7.

Full version

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8.

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