The Irish court asked the European Court of Justice (ECJ) for clarity on the matter when it rejected an attempt earlier this year to force a referendum on Ireland's ratification of the bailout fund.
Ireland does not have a veto over the ESM treaty, which took effect in October after approval by 90 per cent of the eurozone capital base, giving the fund a lending capacity that will total €500 billion. The rescue mechanism for the 17 eurozone countries is to be used to lend to distressed sovereigns in return for strict fiscal and structural reforms.
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