The administrative correction mechanisms outlined in the guidelines apply to information disseminated on or after October 1, 2002, regardless of when it was first disseminated.
But the United States has a long shown a lack of faith in the free market's natural correction mechanism.
Internal correction mechanisms are not particularly effective.
Another problem is the call for a rebate on contributions by the largest net contributors, known as the 'generalised correction mechanism'.
The correction mechanism will hopefully also be an alternative to the British rebate.
I am relying on the Commission availing itself of the correction mechanisms that are at its disposal, should this prove necessary.
This simplification could include the gradual elimination of the existing correction mechanism.
I also share his criticisms of the correction mechanism for the United Kingdom.
However, I feel it is going too far to reject any correction mechanism on the revenue side of the EU budget out of hand.
The four countries which, rightly so, have rejected the British correction mechanism, should make an effort to rectify this situation.