Jack Wall
Ceist:57 Mr. Wall asked the Minister for Finance when the stability programme will be presented to the EU Commission. [5272/00]
Written Answers. - Economic and Monetary Union.
The stability and growth pact agreed between EU member states requires those member states participating in EMU to commit themselves to respect the medium term budgetary objective of positions close to balance or in surplus. In this context, the pact also requires member states to produce, on an annual basis, updated stability programmes specifying their medium term budgetary objectives.
The first Irish stability programme, which covered the period 1999 to 2001, was submitted to the European Commission in December 1998. The updated Irish stability programme for the period 2000 to 2002 was submitted to the European Commission in December 1999.
After carrying out an assessment of the updated Irish programme, the EU Council of Economic and Finance Ministers – ECOFIN – delivered an opinion at its meeting on 31 January 2000. In this opinion, the Council noted that "Ireland already fulfilled its obligations under the stability and growth pact in 1999. This will continue to be the case in the period 2000-2002".
It is intended that the next Irish stability programme update will be submitted in conjunction with budget 2001.