Notice of default

Within the framework of the Stability and Growth Pact, pursuant to Art. 126 TFEU, a request to a member with an excessive deficit to reduce its debt level within a specified period. In case of non-compliance, punitive measures can be applied against the member. – See bailout, blame game, ClubMed, shadow state, solidarity, financial, stabilization mechanism, European, Stability and Growth Pact, fundamental error, Semester, European, government debt, effects, statistics authority, transfer union, constitutional article one, debt-productivity linkage, debt limit, growth-debt fact, historical. – Cf. Monthly Report of the Deutsche Bundesbank of August 2013, pp. 71 et seq. (new decisions on deficit procedures; in note 1, description of the
course of proceedings when notice of default is given).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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