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Council Regulation (EC) No 1467/97 of 7 July 1997 on speeding up and clarifying the implementation of the excessive deficit procedure article 1 CELEX: 01997R1467-20240430 1. This Regulation lays down the provisions for speeding up and clarifying the implementation of the excessive deficit procedure. The objective of the excessive deficit procedure is to deter excessive government deficits and, if they occur, to further prompt their correction, where compliance with budgetary discipline is examined on the basis of the government deficit and government debt criteria. 2. For the purposes of this Regulation, ‘participating Member States’ means those Member States whose currency is the euro. 3. The definitions of Article 2 of the Regulation (EU) 2024/1263 of the European Parliament and of the Council () apply. |