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
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- 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