Treaty Establishing The European Stability Mechanism

Original Language Title: Vertrag zur Einrichtung des Europäischen Stabilitätsmechanismus

Read the untranslated law here: https://www.global-regulation.com/law/austria/2997247/vertrag-zur-einrichtung-des-europischen-stabilittsmechanismus.html

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Treaty establishing the European stability mechanism between the Kingdom of Belgium, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Grand Duchy of Luxembourg, Malta, the Kingdom of the Netherlands, the Republic of Austria, the Portuguese Republic, the Republic of Slovenia, the Slovak Republic and the Republic of Finland

 

[Equipment see treaty text in German language version]

 

The instrument of ratification signed by the Federal President and countersigned by the Federal Chancellor was deposited on 30 July 2012 with the Secretary General of the Council of the European Union; the agreement comes into force under article 48 para 1 with 27 September 2012.

After notification of the Secretary-General of the Council of the European Union, following more States have ratified the Treaty, accepted, or approved:

Belgium, Germany, Finland, France, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, Cyprus.

 

In addition, have agreed to the representatives of the Contracting Parties, which met on 27 September 2012 in Brussels, following declaration of interpretation:

Article 8 paragraph 5 of the Treaty establishing the European stability mechanism (hereinafter "contract") limited all payment obligations of the ESM members from the contract in the sense that no provision of the Treaty can be interpreted so that she, without prior consent of the representative of the Member, and taking into account the national procedures, can lead to an obligation to pay which exceeds the amount of the authorized capital of the ESM member as defined in annex II to the Treaty.

Article 32 paragraph 5, article 34 and article 35 paragraph 1 of the Treaty are the comprehensive information of the national parliaments in accordance with the national rules not contrary.

The above points are an essential basis of the consent of the Contracting States to be bound by the provisions of the Treaty.

 

Faymann