Parliament ratifies European Council’s decision on European Stability Mechanism

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The Parliament plenary sitting adopted the draft law ratifying the European Council’s decision on the European Stability Mechanism (ESM) in the Euro Area.

The document was approved with 307 votes in favour, one against and one abstention.

President Traian Basescu sent a letter to Senate Speaker Vasile Blaga and Deputies’ Chamber Speaker Roberta Anastase requesting the adoption ‘as urgently as possible’ of the draft law ratifying the European Council’s decision on ESM in the Euro Area.

Amid the current economic crisis engulfing the EU, Romania backed the establishment of the ESM and implicitly the limited amendment of the Treaty on the Functioning of the EU in order to assure the Euro Area’s stability.

Romania will contribute to the European Stability Mechanism after joining the euro area.

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