EU court rejects ESM challenge
The court said the ESM complemented the new regulatory framework for strengthened economic governance of the EU.
The Court of Justice of the European Union has approved the European stability mechanism (ESM).
In a challenge brought by Donegal South West independent TD Thomas Pringle, the court ruled that EU law does not prevent the treaty establishing the ESM being concluded and ratified by eurozone member states.
The European Council adopted a decision in March 2011 extending the Treaty on the Functioning of the European Union (TFEU).
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