THE EUROPEAN MECHANISM FOR FINANCIAL STABILITY AND THE EURO-PLUS PACT
THE EUROPEAN MECHANISM FOR FINANCIAL STABILITY AND THE EURO-PLUS PACT
Author(s): Augustin FuereaSubject(s): Law, Constitution, Jurisprudence
Published by: Universitatea Nicolae Titulescu
Keywords: The European Financial Stabilization Mechanism; the Euro-Plus Pact; European Union; The Council Conclusions; EU Member States.
Summary/Abstract: The economic crisis that has affected countries from all continents has generated, among others, also a strong financial crisis, which in turn, has caused serious imbalances in the economic and financial environment of EU Member States. Under these circumstances, the Council, being in an exceptional situation, “outside the control of Member States”, as it itself states in the Preamble to Regulation No. 407/2010, considered necessary, “the immediate establishment of a stabilization mechanism at EU level in order to maintain the financial stability in the European Union”, mechanism that “would enable the Union to respond in a coordinated, rapid and effective way to the serious difficulties undergone by a certain Member State”.
Journal: LESIJ - Lex ET Scientia International Journal
- Issue Year: XIX/2012
- Issue No: 1
- Page Range: 32-40
- Page Count: 9