13/07/2011 (Agence Europe) - Closure of excess deficit proceedings. On Tuesday 12 July, the Polish finance minister, Jacek Rostowski, said the ECOFIN Council had decided to cancel the excess deficit proceedings against Finland, whose public deficit has never risen above the 3% of GDP cut-off point, even in the worst of the crisis. Congratulating Helsinki on its budget, EU Economic and Monetary Affairs Commissioner Olli Rehn urged the Finnish government to take action now to deal with the...