Brussels, 23/04/2004 (Agence Europe) - As it announced on 7 April when presenting its "Spring forecasts", the European Commission officially launched procedures to counteract excessive deficits in the Netherlands (3.2% in 2003, forecast of 3.5% for 2004) and the United Kingdom (3.2% in 2003). The Commission is to adopt a report for each of these countries, recommending that the Ecofin Council confirm the existence of the excessive deficits, and proposing a time-table and measures to remedy the situation. Furthermore, it will propose that the Council end excessive deficit proceedings against Portugal, which it started in 2002. The Commission started the "early warning mechanism" on 7 April, to prevent the Italian State deficit from exceeding the reference value of 3% of GDP (EUROPE of 8 April, p.8).
The new Commissioner for Economic and Monetary Affairs, Joaquin Almunia, will officially take up his duties on the day of the College meeting. Monday's General Affairs Council will confirm the appointment of the MP and former Secretary General of the Spanish Socialist Labour Party (POSE), who replaces Pedro Solbes, who becomes Vice-President and Economy and Finance Minister in the Zapatero government. Mr Almunia, 55, who has qualifications in law and economy, served in the Gonzalez government for nine years, as Minister for work (1982-1986) and public service (1986-1991). The Economic and Monetary Committee of the EP will audition Mr Almunia on 27 April (EUROPE of 2 April, p.13).