SLOVAKIA’s parliament approved the changes to the Lisbon Treaty that establishes the European Stability Mechanism (ESM), the EU’s permanent bailout fund, during its session on May 15. The amendment to the treaty had the support of 130 out of 142 deputies present, the TASR newswire reported.
The MPs did not support an amendment proposed by the opposition Slovak Democratic and Christian Union (SDKÚ) that would have required the Slovak parliament to vote on each future use of funds from the ESM.
The permanent ESM, which will replace the European Financial Stability Facility (EFSF), the temporary bailout fund currently in place, is designed to safeguard financial stability in the eurozone.
The ESM is expected to begin operating some time in July this year.
21. May 2012 at 0:00 | Compiled by Spectator staff