The Treaty of the European Union, Maastricht Treaty, 7th February, 1992 by European Union
page 30 of 236 (12%)
page 30 of 236 (12%)
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examine the adjustment efforts of that Member State.
10. The right to bring actions provided for in Articles 169 and 170 may not be exercised within the framework of paragraphs 1 to 9 of this Article. 11. As long as a Member State fails to comply with a decision taken in accordance with paragraph 9, the Council may decide to apply the following measures: - to require the Member State concerned to publish additional information, to be specified by the Council, before issuing bonds and securities; - to invite the European Investment Bank to reconsider its lending policy towards the Member State concerned; - to require the Member State concerned to make a non-interest- bearing deposit of an appropriate size with the Community until the excessive deficit has, in the view of the Council, been corrected; - to impose fines of an appropriate size. The President of the Council shall inform the European Parliament of the decisions taken. 12. The Council shall abrogate some or all of its decisions referred to in paragraphs 6 to 9 and 11 to the extent that the excessive deficit in the Member State concerned has, in the view of the Council, been corrected. If the Council has previously made public recommendations, it shall, as soon as the decision under paragraph 8 has been abrogated, make a public statement that an excessive deficit in the Member State concerned no longer exists. 13. When taking the decisions referred to in paragraphs 7 to 9, 11 and 12, the Council shall act on a recommendation from the Commission by a majority of two thirds of the votes of its members weighted in accordance with Article 148(2), excluding the votes of the representative of the Member State concerned. |
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