12. The Council shall abrogate some or all of its decisions referred to in paragraphs  6 to 9 and 11 to the extent that the excessive deficit in the Member State concerned  has, in the view of the Council, been corrected. If the Council has previously made  public recommendations, it shall, as soon as the decision under paragraph 8 has been  abrogated, make a public statement that an excessive deficit in the Member State  concerned no longer exists.

13. When taking the decisions referred to in paragraphs 7 to 9, 11 and 12, the  Council shall act on a recommendation from the Commission by a majority of two  thirds of the votes of its members weighted in accordance with Article 148(2),  excluding the votes of the representative of the Member State concerned.

14. Further provisions relating to the implementation of the procedure described in  this Article are set out in the Protocol on the excessive deficit procedure annexed to  this Treaty.

The Council shall, acting unanimously on a proposal from the Commission and after  consulting the European Parliament and the ECB, adopt the appropriate provisions  which shall then replace the said Protocol.

Subject to the other provisions of this paragraph, the Council shall, before 1 January  1994, acting by a qualified majority on a proposal from the Commission and after  consulting the European Parliament, lay down detailed rules and definitions for the  application of the provisions of the said Protocol.

CHAPTER 2

MONETARY POLICY

Article 105

1. The primary objective of the ESCB shall be to maintain price stability. Without  prejudice to the objective of price stability, the ESCB shall support the general  economic policies in the Community with a view to contributing to the achievement  of the objectives of the Community as laid down in Article 2. The ESCB shall act in  accordance with the principle of an open market economy with free competition,  favoring an efficient allocation of resources, and in compliance with the principles  set out in Article 3a.

2. The basic tasks to be carried out through the ESCB shall be:

to define and implement the monetary policy of the Community;

to conduct foreign exchange operations consistent with the provisions of Article  109;

to hold and manage the official foreign reserves of the Member States;

to promote the smooth operation of payment systems.

3. The third indent of paragraph 2 shall be without prejudice to the holding and  management by the governments of Member States of foreign exchange working  balances.

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