PARIS (MNI) – The following statement was released by Jean-Claude
Juncker, president of the Eurogroup, following the decision of the
German Constitutional Court in favor of the European Stability
Mechanism:
“I take note of the decision of the German Federal Constitutional
Court concerning the request for a preliminary injunction concerning the
ratification by the German government of the treaty establishing the
European Stability Mechanism (ESM) and the treaty on Stability,
Cooperation and Governance in the Economic and Monetary Union (TSCG).
Taking full account of all elements of the ruling, I look forward
to the completion of the outstanding procedures allowing for the Treaty
Establishing the European Stability Mechanism to enter into force. I
plan to convene the inaugural meeting of the ESM-Board of Governors in
the margins of the Eurogroup meeting of 8 October in Luxembourg.
The TSCG will enter into force once twelve euro area Member States
have ratified it, but not earlier than 1 January 2013.
Both treaties represent a major step forward towards closer fiscal
and economic integration and stronger governance in the euro area. They
are part of our comprehensive strategy to bolster the outlook for fiscal
sustainability and growth in the euro area.”
–Paris newsroom, +33142715540; jduffy@marketnews.com
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