croconomic imbalances are identified imbalances that duparnos the proper functioning of the economic and monetary union an excessive procedure should be made included
If severe macroeconomic imbalances are identified, including imbalances that jeopardise the proper functioning of the economic and monetary union, an excessive imbalance procedure should be initiated that may include issuing recommendations to the Member State, enhanced surveillance and monitoring requirements and, in respect of Member States whose currency is the euro, the possibility of enforcement (penalties) in the event of sustained failure to take corrective action.
If macroeconomic imbalances are identified, imbalances that jeopardise the proper functioning of the economic and monetary union, an excessive procedure should be may include issuing to the Member State, enhanced surveillance and monitoring requirements and, in respect States whose currency the euro, the possibility of enforcement (penalties) in the event of sustained failure to take action.