Europe: Court of Justice approves the European Stability Mechanism

The Court of Justice of the European Union has held that EU law does not preclude the conclusion and ratification of the Treaty establishing the European Stability Mechanism by the Member States in the euro zone: see here (pdf). A copy of the Treaty is available here (pdf).

Europe: inauguration of the European Stability Mechanism

The European Stability Mechanism, a permanent crisis resolution mechanism for the Eurozone countries, was inaugurated earlier this week following the signing of a Treaty in February this year: see here. A copy of the Treaty is available here (pdf). For further information about the ESM, see here and the FAQs available here (pdf).