The accession of Romania to the stability pact, "expedited "
President Traian Basescu called on the Presidents of the two Chambers of Parliament to urgently adopt the draft law on the ratification of the EC decision, relating to the stability.
Articol de Ioana Dogaru, 10 Iunie 2012, 10:23
Romania has supported from the beginning creating European stability mechanism and hence the limited modification of the Treaty in order to ensure the stability of the Euro area, amid the current economic crisis in the EU.
President Traian Băsescu has requested the Presidents of the two Chambers of Parliament to urgently adopt the draft law on the ratification of the European Council's decision on the mechanism of stability for the Euro area countries.
"As President of Romania and guarantor of compliance with the obligations resulting from the accession of Romania to the European Union, along with the Parliament and in accordance with art. 148 of the Romanian Constitution , I kindly ask you to pay particular attention to the adoption by Parliament, as soon as possible, the draft law on ratification of the European Council Decision 2011/199/EU of March 25 2011 amending art. 136 of the Treaty on the functioning of the European Union concerning a stability mechanism for those Member States whose currency is euro ", President Băsescu stated in the letter.
In the letter that the President has addressed on Friday, it is shown that the document was subject to ratification by Parliament in Bucharest in December 2011.
Those Member States whose currency is the euro may use to a mechanism that would ensure the stability of the entire euro zone, after the European Council decided last year that the EU Treaty to be amended.
States such as Romania, which still have currency, can join-also – to this mechanism.
Romania will contribute to European Stability Mechanism (MES) after joining the euro area.
In order to harness the necessary funds , MES will be able to launch issues of financial instruments, will be able to conclude agreements or arrangements with other States parts to the mechanism, with financial institutions or other third parts.
For establishing the European Mechanism Stability was necessary to amend the limited modification of the Treaty on the European Union Functioning, decision to this effect being adopted at the European Council on 16-17 December 2010,informs Agerpres.
MES will replace the European Facility for Financial Stability and the European Mechanism of Financial Stabilisation , which will remain in force until June 2013.
Translated by
Denisse-Meda Bucura
MTTLC, Bucharest University
