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Enacted Dáil
No. 37 of 2012

European Stability Mechanism Bill 2012

Public bill · Government · Presented

Ireland would join and fund the permanent European Stability Mechanism, which provides financial assistance to euro-area countries facing serious financial difficulties. The Finance Minister could make Ireland’s required payments, up to €11.15 billion in authorised capital, with money coming from the Central Fund; any money Ireland received from the mechanism would go to the Exchequer. The mechanism would be exempt from Irish taxes and Central Bank regulation, protected from legal proceedings, and subject to six-monthly reports to the Dáil on payments and receipts.

Formal long title

Bill entitled an Act to further facilitate, in the public interest, the financial stability of the European Union by establishing a permanent stability mechanism to assume the tasks of the European Financial Stability Facility and the European Financial Stabilisation Mechanism in providing, where needed, financial assistance to euro area member states and for that purpose— (A) to make permanent provision to provide for matters relating to the participation by the State in the European Stability Mechanism pursuant to the treaty establishing the European Stability Mechanism done at Brussels on 2 February 2012 between the euro area Member States, (B) to provide for matters relating to the State's subscription to the authorised capital stock of the European Stability Mechanism in accordance with that Treaty, (C) to provide for payments to be made out of the central fund or the growing produce of that fund so as to enable the State to give effect to that Treaty, (D) to provide for all dividends or other moneys received by the state under that treaty to be paid into the exchequer, and (E) to provide for related matters

Last updated 12 April 2018

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • European Stability Mechanism Bill 2012: Committee and Remaining Stages
    Seanad
  • European Stability Mechanism Bill 2012: Second Stage
    Seanad
  • European Stability Mechanism Bill 2012: Report and Final Stages
    Dáil
  • European Stability Mechanism Bill 2012: Order for Second Stage
    Dáil
  • European Stability Mechanism Bill 2012: Second Stage
    Dáil
  • European Stability Mechanism Bill 2012: Referral to Select Committee
    Dáil

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