Advanced Search

Law No. 85 From 20 June 2012

Original Language Title:  LEGE nr. 85 din 20 iunie 2012

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.
LEGE no. 85 85 of 20 June 2012 for ratification European Council Decision 2011 /199/EU COUNCIL DECISION of 25 March 2011 amending Article 136 of the Treaty on the Functioning of the European Union on a mechanism of stability for the Member States whose currency is the euro
ISSUER PARLIAMENT
Published in OFFICIAL MONITOR no. 419 419 of 22 June 2012



The Romanian Parliament adopts this law + Article UNIC It is ratified European Council Decision 2011 /199/EU COUNCIL DIRECTIVE of 25 March 2011 amending Article 136 of the Treaty on the Functioning of the European Union on a mechanism of stability for the Member States whose currency is the euro. This law was adopted by the Romanian Parliament, in compliance with the provisions of art. 148 148 para. (1) and (3) of the Romanian Constitution, republished. CHAMBER OF DEPUTIES PRESIDENT ROBERTA ALMA ANASTASE SENATE PRESIDENT VASILE BLAGA Bucharest, June 20, 2012. No. 85. + Annex EUROPEAN COUNCIL DECISION of 25 March 2011 amending Article 136 of the Treaty on the Functioning of the on a stability mechanism for Member States whose currency is the euro ( 2011 2011 /199/EU ) European Council, Having regard to the Treaty on European Union, and in particular Article 48 (6) thereof, Having regard to the proposal for a revision of Article 136 of the Treaty on the Functioning of the European Union, presented to the European Council by the Belgian Government Having regard to the opinion of the European Parliament Having regard to the opinion of the European Commission after obtaining the opinion of the European Central Bank * 3) Whereas: ((1) Article 48 (6) of the Treaty on European Union (TEU) allows the European Council, acting unanimously and after consulting the European Parliament, the Commission and, in certain cases, the European Central Bank, to adopt a decision amending, all or part of the provisions of Part Three of the Treaty on the Functioning of the European Union (TFEU). Such a decision may not extend the powers conferred on the Union by the Treaties and its entry into force shall be subject to its subsequent approval by the Member States in accordance with their constitutional rules; ((2) At the meeting of the European Council of 28 and 29 October 2010, the Heads of State or Government agreed on the need for the Member States to establish a permanent crisis mechanism in order to guarantee the financial stability of the the euro area as a whole, and invited the President of the European Council to undertake consultations with the members of the European Council on a restricted treaty change needed to do so; (3) On 16 December 2010, the Belgian Government submitted, in accordance with the first subparagraph of Article 48 (6) TEU, a proposal for the revision of Article 136 TFEU, consisting in the addition of a paragraph under which the Member States whose the currency is the euro may establish a stability mechanism to be activated if it is indispensable, in order to guarantee the stability of the euro area as a whole, and which provides that the granting of any necessary financial assistance in compliance with this mechanism will be subject to strict conditioning. At the same time, the European Council adopted conclusions on the future stability mechanism (points 1-4); (4) The stability mechanism will provide the necessary instrument for addressing such cases of risk to the financial stability of the euro area as a whole, as experienced in 2010, and will therefore contribute to the maintenance of the euro area. the economic and financial stability of the Union itself. At its meeting of 16 and 17 December 2010, the European Council agreed that, as this mechanism is intended to guarantee the financial stability of the euro area as a whole, Article 122 (2) of the TFEU will no longer be necessary in the that purpose. Therefore, the Heads of State or Government agreed that it should no longer be used for this purpose; (5) On 16 December 2010, the European Council decided, in accordance with the second subparagraph of Article 48 (6) TEU, to consult the European Parliament and the Commission on that proposal. It also decided to consult the European Central Bank. The European Parliament * 1), the Commission * 2) and the European Central Bank * 3) adopted opinions on the proposal; (6) The amendment refers to a provision included in Part Three TFEU and does not extend the powers conferred on the Union by the Treaties, Adopt this Decision + Article 1 In Article 136 of the Treaty on the Functioning of the European Union, a paragraph is inserted: " (3) Member States whose currency is the euro may establish a stability mechanism to be activated if it is indispensable, in order to guarantee the stability of the euro area as a whole. The granting of any financial assistance required under the mechanism will be subject to strict conditionality. " + Article 2 Member States shall notify the General Secretariat of the Council without delay of completing the procedures for the approval of this Decision in accordance with their constitutional rules This Decision shall enter into force on 1 January 2013, provided that all the notifications referred to in the first subparagraph are received, or, otherwise, on the first day of the month following that in which the last notification referred to in the first subparagraph has been received. + Article 3 This Decision is published in the Official Journal of the European Union. Done at Brussels on 25 March 2011. For the European Council, H. van Rompuy, President --------- * 1) Opinion of 23 March 2011 (not yet published in the Official Journal). * 2) Opinion of 15 February 2011 (not yet published in the Official Journal). * 3) Opinion of 17 March 2011 (not yet published in the Official Journal). -------