The Treaty of the European Union, Maastricht Treaty, 7th February, 1992 — John Shaqi
The Treaty of the European Union, Maastricht Treaty, 7th February, 1992European Union
History
The Treaty of the European Union, Maastricht Treaty, 7th February, 1992
European Union
Europe -- Economic integration; European Union; European federation
Council on policies which might affect the internal or external
monetary situation in the Community and, in particular, the functioning
of the European Monetary System;
- make recommendations to the monetary authorities of the Member
States concerning the conduct of monetary policy.
5. The EMI, acting unanimously, may decided to publish its opinions
and its recommendations.
6. The EMI shall be consulted by the Council regarding any proposed
Community act within its field of competence.
Within the limits and under the conditions set out by the Council,
acting by a qualified majority on a proposal from the Commission and
after consulting the European Parliament and the EMI, the EMI shall be
consulted by the authorities of the Member States on any draft
legislative provision within its field of competence.
7. The Council may, acting unanimously on a proposal from the
Commission and after consulting the European Parliament and the
EMI, confer upon the EMI other tasks for the preparation of the third
stage.
8. Where this Treaty provides for a consultative role for the ECB,
reference to the ECB shall be read as referring to the EMI before the
establishment of the ECB. Where this Treaty provides for a
consultative role for the EMI, references to the EMI shall be read,
before 1 January 1994, as referring to the Committee of Governors.
9. During the second stage, the term "ECB" used in Articles 173, 175,
176, 177, 180 and 215 shall be read as referring to the EMI.
ARTICLE 109g
The currency composition of the ECU basket shall not be changed.
From the start of the third stage, the value of the ECU shall be
irrevocably fixed in accordance with Article 109l(4).
ARTICLE 109h
1. Where a Member State is in difficulties or is seriously threatened
with difficulties as regards its balance of payments either as a result
of a overall disequilibrium in its balance of payments, or as a result of
the type of currency at its disposal, and where such difficulties are
liable in particular to jeopardize the functioning of the common market
or the progressive implementation of the common commercial policy,
the Commission shall immediately investigate the position of the State
in question and the action which, making use of all means at its
disposal, that State has taken or may take in accordance with the
provisions of this Treaty. The Commission shall state what measures
it recommends the State concerned to take.
If the action taken by a Member States and the measures suggested
by the Commission do not prove sufficient to overcome the difficulties
which have arisen or which threaten, the Commission shall, after
consulting the Committee referred to in Article 109c, recommend to the
Council the granting of mutual assistance and appropriate methods
therefor.
The Commission shall keep the Council regularly informed of the
situation of how it is developing.
2. The Council, acting by a qualified majority, shall grant such mutual
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