On The European Council Decision, With The Treaty On The Functioning Of The European Union Article 136 Is Amended As Regards The Stabilisation Mechanism For Countries Whose Currency Is The Euro

Original Language Title: Par Eiropadomes lēmumu, ar ko Līguma par Eiropas Savienības darbību 136.pantu groza attiecībā uz stabilizācijas mehānismu valstīm, kuru naudas vienība ir euro

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/247435

The Saeima has adopted and the President promulgated the following laws: The European Council decision, with the Treaty on the functioning of the European Union article 136 is amended as regards the stabilisation mechanism for countries whose currency is the euro article 1. 25 March 2011 in the European Council's decision on the Treaty on the functioning of the European Union article 136 is amended as regards the stabilisation mechanism for countries whose currency is the euro (hereinafter the decision), this law is adopted and approved. 2. article. Fulfilment of the obligations provided for in the decision are coordinated by the Ministry of finance. 3. article. The decision shall enter into force for the period specified in article 2, and in order, and the Ministry of Foreign Affairs shall notify the newspaper "journal". 4. article. The law shall enter into force on the day following its promulgation. With the law put for decision of Latvian language. The Parliament adopted the law in 2012 on April 19.
The President a. Smith in 2012 on May 9 decision of the European Council (25 March 2011), with the Treaty on the functioning of the European Union article 136 is amended as regards the stabilisation mechanism for Member States whose currency is the euro (2011/199/EU) the European Council, having regard to the Treaty on European Union, and in particular article 48 paragraph 6, having regard to the proposal to review the Treaty on the functioning of the European Union article 136. by the year 2010 on December 16, the Council submitted to the Belgian Government, having regard to the opinion of the European Parliament, having regard to the opinion of the European Commission, after the opinion of the European Central bank, whereas: (1) of the Treaty on European Union (TEU) in article 48 paragraph 6 allows the European Council, after consulting the European Parliament, the Commission and, in certain cases, the European Central Bank, adopt unanimously a decision amending all or part of the Treaty on the functioning of the European Union (TFEU) in the third subparagraph. With such a decision cannot extend the Union's competences, which conferred on it in the treaties, and the entry into force of the decision is confirmation of the Member States in accordance with their constitutional requirements. (2) the European Council at the 2010 October 28 and 29 meeting of the heads of State or Government reached an agreement that the Member States are required to establish a permanent crisis management mechanism to ensure financial stability in the euro area, and invited the President of the European Council to start consultations with the members of the European Council on the minor changes to the agreement necessary to that end. (3) the Belgian Government 2010. on 16 December, in accordance with article 48 TEU the first part presented a proposal to revise ARTICLE 136 article, then add a new paragraph, which would be that Member States whose currency is the euro may establish a stabilisation mechanism that will be used, if required, to ensure the stability of the euro area, which would have required that any required financial assistance under the mechanism will apply strict conditions. At the same meeting, the Council adopted conclusions on the stabilization mechanism (conclusions 1 to 4). (4) the stabilisation mechanism will provide the necessary tools in order to avoid any risks to the financial stability of the euro area, which was seen in 2010, and thus help to maintain its own economic and financial stability. The European Council of 16 and 2010 17 December meeting agreed that, since the mechanism is designed to protect the euro area financial stability, further to this end would not be necessary ARTICLE 122, paragraph 2 of the article. The heads of State or Government therefore agreed that it should no longer be used for that purpose. (5) the European Council on 16 December 2010, according to article 48 TEU, second subparagraph, decided to discuss this proposal with the European Parliament and the Commission. It decided to consult also with the European Central bank. The European Parliament [1], [2] the Commission and the European Central bank [3] adopted opinions on the proposal. (6) the amendment concerns the provisions contained in the third paragraph, TFEU and does not extend the Union's competences, which conferred on it in the treaties, has adopted this decision. Article 1 of the Treaty on the functioning of the European Union article 136, the following paragraph is added: ' 3. the Member States whose currency is the euro may establish a stabilisation mechanism that will be used, if required, to ensure the stability of the euro area. Any required financial assistance under the mechanism will apply strict conditions. " Article 2 Member States shall immediately notify the Secretary-General of the Council of the completion of the approval procedure of this decision in accordance with their respective constitutional requirements. This decision shall enter into force on January 1, 2013, if all the first paragraph of this article, the statements or, if it has not happened, the first day of the month following receipt of the last in the first paragraph of the Declaration. Article 3 this decision shall be published in the official journal of the European Union. Brussels, 25 March 2011 on behalf of the European Council the President h. van Rompuy