The legislative act to be adopted (on the basis of, inter alia, Article 126 TFEU) should aim in particular to strengthen the preventive arm of the SGP and include economically and politically more sensible sanctions and incentives, while taking due account of the structure of the national deficit and debt (including implicit liabilities), the ‘economic cycle’, in order to avoid pro-cyclical budgetary policy, as well as the nature of the public revenues and expenditures needed for growth-enhancing structural reforms; all Member States should aim to make progress but those with larger gaps should generally contribute more towards meeting targets in respect of debt stock and deficits. Demographic evolution should also be taken into account when assessing curren ...[+++]t account imbalances.

1. The data in the general ledger shall be kept and organised in such a way as to justify the content of each of the accounts included in the trial balance.

Each institution and body referred to in Article 185 of the Financial Regulation shall establish a trial balance covering all the accounts of the general accounts, including the accounts cleared during the year, with, in each case:

Inclusion of interest accrued is required for both the financial account of the balance of payments and for the international investment position; these recordings need to have offsetting entries in their respective income accounts.

A statement showing the movements and balances of the accounts at the same date shall be attached thereto.

The current account balance has improved, with small surpluses recorded in 2012 and 2013.