Web-Companion "Essential EU Law in Charts - Reprints"
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Dear Reader of "Essential EU Law in Charts, 2nd Lisbon edition, 2010, <...> Reprint".
Please take note of the following updates and corrigenda. Please consider that this book has seen several reprints, which brought about minor updates with each reprint. It may therefore occur that updates or corrigenda are listed which may already have been taken care of in your printed copy.
Treaty revision | p. 64
On 24/25 March 2011, the European Council agreed on the first Treaty revision effected through a simplified revision procedure (European Council Decision 2011/199/EU). It decided to add to Art. 136 TFEU the following new paragraph:
“3. The Member States whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a whole. The granting of any required financial assistance under the mechanism will be made subject to strict conditionality.”
Therefore, the 5th box on the right hand side must read:
a) On Part Three of the TFEU:
• Proposal from a government of a Member State, the EP or the Commission to the European Council.
• The European Council consults the EP and the Commission and, in certain cases, the ECB.
• The European Council decides unanimously.
• Approval in the Member States.
First revision of this kind: insertion of Art. 136(3) TFEU, concerning the European Stability Mechanism (ESM) in March 2011.