Government formally ratifies ESM treaty

The Government has formally ratified the European Stability Mechanism Treaty.

1st August, 2012

The Government has formally ratified the European Stability Mechanism Treaty.

The ratification will follows yesterday’s Supreme Court decision that the ESM Treaty is fully compatible with the Constitution.

Earlier, Italian Prime Minister Mario Monti said that the ESM, earmarked as the European Union’s permanent rescue fund, should be granted a banking license, something he said is likely to happen.

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