31.12. 88 Official Journal of the European Communities No L 377/1 (Acts whose publication is not obligatory) COUNCIL COUNCIL DECISION of 21 December 1988 adopting the annual report on the economic situation in the Community and laying down economic policy guidelines for 1989 (88/655/EEC) THE COUNCIL OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Decision 74/120/EEC of 18 February 1974 on the attainment of a high degree of convergence of the economic policies of the Member States of the European Economic Community (), as amended by Decisions 75/787/EEC (2) and 79/136/EEC (3), and in particular Article 4 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (4), Having regard to the opinion of the Economic and Social Committee (°). () OJ No L 63, 5. 3.1974, p. 16. (2) OJ No L 330, 24. 12. 1975, p. 52. () OJNo L 35,9.2.1979, p. 8.. (*) OJ No C 326, 19. 12. 1988. (%) Opinion delivered on 23 November 1988 (not yet pubhshed in. the Official Journal). HAS ADOPTED THIS DECISION: Article 1 The Council hereby adopts the annual report -on the - economic situation in, and economic policy guidelines to be followed by the Community, which are contained in Parts A to C of the report attached to this Decision and lays down the economic policy guidelines to be followed by the Member States, contained in Part D of the said report. Article 2 This Decision is addressed to the Member States. Done at Brussels, 21 December 1988 For the Council The President V. PAPANDREOU