Press Release: Decision adopted on treaty amendment, Brussels, 25 March 2011

The European Council today (25.3.2011) adopted a decision amending the Treaty on the Functioning of the European Union in order for a permanent mechanism to be established, the European Stability Mechanism, to safeguard the financial stability of the euro area. The decision adds a paragraph to article 136 of the treaty, by which the member states whose currency is the euro may establish a stability mechanism to be activated if
indispensible to safeguard the stability of the euro area as a whole, and stating that the granting of any required financial assistance under the mechanism will be made subject to strict conditionality.