2 Amendments of José Manuel GARCÍA-MARGALLO Y MARFIL related to 2010/0821(NLE)
Amendment 11 #
Draft decision
Recital 4
Recital 4
(4) The stability mechanism will provide thea necessary tool for dealing with such cases of risk to the financial stability of the euro area as a whole as have been experienced in 2010, and hence help preserve the economic and financial stability of the Union itself. At its meeting of 16 December 2010, the European Council agreed that, as this mechanism is designed to safeguard the financial stability of the euro area as whole, Article 122(2) of the TFEU will no longer be needed for such purposes. The Heads of State or Government therefore agreed that it should not be used for such purposes as from the entry into force of this Decision.
Amendment 26 #
Draft decision
Article 1
Article 1
The following paragraph shall be added to Article 136 of the Treaty on the Functioning of the European Union: "3. The Member States whose currency is the euro may establish a permanent 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. The permanent stability mechanism should be designed in such a way as to foster budgetary discipline and to contribute to long-term sustainable finances.".