Treaty change to allow eurozone stability mechanism raises concerns

Treaty change to allow eurozone stability mechanism raises concerns

(...) The fact that the EU Treaty change proposed to allow Member States to set up a permanent mechanism to safeguard eurozone stability was an intergovernmental choice, rather than an EU one, prompted concerns among Constitutional Affairs Committee MEPs on Tuesday. The tight timetable for the proposed change also worried several MEPs. Both co-rapporteurs on the issue questioned whether the method chosen by the Member States to establish such a mechanism was the right one. "Is this necessary constitutionally?" asked Roberto Gualtieri (S&D, IT), pointing out that "we are building a mechanism with a totally intergovernmental foundation, and not an EU mechanism". Elmar Brok (EPP, DE), shared this concern about the intergovernmental nature of the change, but observed "I don't think it is possible for Parliament to change the text; nor do I think we can play the game of preventing the decision of the European Council in March, because of the emergency in the Member States and the effect on the markets". (...)