Background: European financial stabilisation mechanism
by Grahnlaw
The Council of the European Union has issued COUNCIL REGULATION (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism; published OJEU 12.5.2010 L 118/1.
Once upon a time, I explored the stages leading towards the Lisbon Treaty, writing a number of blog posts about what became Article 122 of the Treaty on the Functioning of the European Union (TFEU).
Now that the EU member states have felt the need to shore up the common currency, it is interesting to see in which terms the provision on financial assistance was discussed at the time. In this blog post we look at the legislative history of Article 122 TFEU.