House of Commons: Committee stage of European Union (Approval of Treaty Amendment Decision) Bill

11 September 2012

The House of Commons held the committee stage of the European Union (Approval of Treaty Amendment Decision) Bill. The Bill also received its third reading and will be sent to the House of Lords to await Royal Assent.

The Bill enables the UK to ratify an amendment to Article 136 of the Treaty on the Functioning of the European Union. The amendment will give legal basis to the creation of a permanent European Stability Mechanism (ESM), which will provide financial assistance to eurozone States, up to a limit of €500 billion, in order to safeguard the economic stability of the eurozone. The ESM is established in a separate treaty between the 17 Member States in the eurozone.

Full press release

© UK Parliament