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Council Directive 2011/85/EUShow full title
Council Directive 2011/85/EU of 8 November 2011 on requirements for budgetary frameworks of the Member States
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Article 6
1.Without prejudice to the provisions of the TFEU concerning the budgetary surveillance framework of the Union, country-specific numerical fiscal rules shall contain specifications as to the following elements:
(a)the target definition and scope of the rules;
(b)the effective and timely monitoring of compliance with the rules, based on reliable and independent analysis carried out by independent bodies or bodies endowed with functional autonomy vis-à-vis the fiscal authorities of the Member States;
(c)the consequences in the event of non-compliance.
2.If numerical fiscal rules contain escape clauses, such clauses shall set out a limited number of specific circumstances consistent with the Member States’ obligations deriving from the TFEU in the area of budgetary policy, and stringent procedures in which temporary non-compliance with the rule is permitted.
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