Eurozone stability mechanism should be part of the EU, says Constitutional Affairs Committee

Eurozone stability mechanism should be part of the EU, says Constitutional Affairs Committee

(...) A limited EU Treaty change to allow a permanent bailout fund for the eurozone was backed by Constitutional Affairs Committee on Monday. However, MEPs were "deeply concerned" that the mechanism is an intergovernmental choice, rather than an EU one, and urged Member States to bring it within the EU system.

The Treaty change proposed by the European Council in December 2010 to allow the creation of a permanent European Stability Mechanism (ESM), was approved by the Constitutional Affairs Committee on Monday 7 March, with 17 votes in favour and 4 against. (...)