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Image header Agence Europe
Europe Daily Bulletin No. 10735
ECONOMY - FINANCE - BUSINESS / (ae) economy

Green light from Polish government on budgetary pact

Brussels, 21/11/2012 (Agence Europe) - On Tuesday 21 November, the Polish government gave its green light to Poland's ratification of the “budgetary pact”, an inter-governmental treaty reinforcing budgetary discipline and signed by 25 member states. “The pact allows countries outside the eurozone, like Poland, to participate in discussions on its future and on potential changes to the pact itself,” without imposing any commitment on Poland as long as it is not a member of this zone, said the Polish Prime Minister Donald Tusk, AFP reports. The budgetary pact now has to be approved by the parliament and then ratified by the Polish President. So far ratified by 12 member states, eight of which belong to the eurozone (Germany, Austria, Cyprus, Spain, Greece, Italy, Portugal and Slovenia), it will apply in 2013 once 12 Eurozone countries have ratified it. Eurozone countries which do not ratify it will be unable to claim any aid under the European Stability Mechanism, the permanent bailout fund with a budget of €500 billion. (MB/transl.fl)

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A LOOK BEHIND THE NEWS
ECONOMY - FINANCE - BUSINESS
EUROPEAN PARLIAMENT PLENARY
SECTORAL POLICIES
EXTERNAL ACTION