When questioned by euro area finance ministers, the Legal Service of the Council of the European Union considers that a euro area country cannot be forced to participate in a possible intergovernmental agreement (IGA) to provide additional funding for the future fiscal capacity of the Eurozone.
“The EU Treaties or an act of EU secondary law (as the BICC Regulation) cannot legally oblige Member States to conclude the IGA referred to in the term sheet, or compel them to contribute to the...