News
BackIt has been planned to amend Article 136 of the Lisbon Treaty as a basis for the creation of a permanent rescue mechanism for the Euro. The new permanent European Stability Mechanism shall replace all current stability mechanisms, which would expire in 2013.
In December, the heads of state and government had decided to supplement Article 136 of the Treaty on the Functioning of the European Union: “The member states whose currency is the Euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the Euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionality.”
This week, the Commission presented its positive position on the amendment of Article 136 to the European Parliament within the scope of a simplified amendment procedure. “The Commission believes that as the proposed amendment affects the policies and internal actions of the Union, the conditions are met for this to be done through the simplified treaty amendment procedure.” The simplified procedure would reduce the constitutional provisions in the Member States, thereby increasing the possibility that the amendment of the Treaty will be accepted.
Some MEPs criticised, that the intergovernmental approach would not clearly regulate the competencies of EU Commission, Parliament and Council in respect of the stability mechanism and that more transparency was needed. The European Council intends to adopt the stability mechanism at the end of March.
Further information:
Commission Opinion
Conclusions of the European Council (16-17 December 2010)
This week, the Commission presented its positive position on the amendment of Article 136 to the European Parliament within the scope of a simplified amendment procedure. “The Commission believes that as the proposed amendment affects the policies and internal actions of the Union, the conditions are met for this to be done through the simplified treaty amendment procedure.” The simplified procedure would reduce the constitutional provisions in the Member States, thereby increasing the possibility that the amendment of the Treaty will be accepted.
Some MEPs criticised, that the intergovernmental approach would not clearly regulate the competencies of EU Commission, Parliament and Council in respect of the stability mechanism and that more transparency was needed. The European Council intends to adopt the stability mechanism at the end of March.
Further information:
Commission Opinion
Conclusions of the European Council (16-17 December 2010)