18/02/2008 (Agence Europe) - On Wednesday 13 February, the European Commission presented, to the Council, a proposal for a regulation to codify arrangements on the application of the protocol on the excessive debt procedure annexed to the Treaty establishing the European Community [Council regulation (EC) n° 3605/93 of 22 November 1993]. The new regulation will supersede the initial directive and the various amendments to it over the years. The content of the acts will be fully preserved, the only alterations being such formal amendments as are required by the codification exercise. The text of the proposal: http: //eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=Comm: 2008: 0073: Fin: FIN: EN: PDF (O.L.)