Press Release: European Commission agrees to limited treaty change

The European Commission has agreed that the Treaty should be amended before 2013 to allow for the establishment of a European stability mechanism to preserve the stability of the euro area. The Commission believes that the proposed amendment to Article 136 of the Treaty on the Functioning of the Union would not alter the competences of the European Union in any way The Commission believes that as the proposed amendment affects the policies and internal actions of the Union, the conditions are met for this to be done through the simplified treaty amendment procedure.