EU finance ministers will consider a recommendation on February 12th from Economic Affairs Commissioner, Mr Pedro Solbes, on the Republic's budgetary policy. The following is the full text of the recommendation:

1. To remove the inconsistency with the broad guidelines of the economic policies, engendered by the Budget plans for 2001, the Irish Government should take countervailing budegtary measures during the current fiscal year. Under the macroeconomic assumptions of the 2000 update in the Stability Programme, this should ensure that no reduction in the underlying budgetary surplus from 2000 takes place.

2. The commission is invited to report, during 2001, on economic and budgetary developments in Ireland. The council will closely monitor these developments and, in particular, assess consistency with the broad guidelines of the economic policies.

3. This recommendation is addressed to Ireland.