Legal opinion on Euro Plus Pact, six legislative acts on “economic governance” (also known as the “six‑pack” on economic governance), on Treaty (...) Cover Image

Opinia merytoryczna na temat Paktu Euro Plus, Traktatu o stabilności, koordynacji i zarządzaniu gospodarczym w Unii Gospodarczej i Walutowej, (...)
Legal opinion on Euro Plus Pact, six legislative acts on “economic governance” (also known as the “six‑pack” on economic governance), on Treaty (...)

Author(s): Stanisław Owsiak
Subject(s): Law, Constitution, Jurisprudence
Published by: Kancelaria Sejmu
Keywords: Poland; European Union; treaty; monetary policy; the fiscal compact; euro; budget;

Summary/Abstract: The purpose of opinion is the characteristic of the Euro Plus Pact and documents, that were created on its basis. At the beginning the author describes the content of acts on “economic governance” (“six-pack”, which consists of five regulations of the European and Council and one Directive of a Council). Then he reports the principles of functioning of Fiscal Pact and European Stability Mechanism (ESM). Author draws attention to the tightening of financial discipline and introduction of additional sanctions for Member States. He also questions the point of imposing financial penalties for a country facing a difficult situation. Similarly, the small benefits could be achieved from accession to the ESM. From the Polish point of view the fundamental importance has the Council Directive 2011/85/EU of 8 November on requirements for budgetary frameworks of the Member States.

  • Issue Year: 2012
  • Issue No: 1
  • Page Range: 161-171
  • Page Count: 11
  • Language: Polish