Title: The unexpected revision of the Lisbon Treaty and the establishment of a European stability mechanism
Abstract: In the first half of 2010, rescue mechanisms were drafted in order to help peripheral euro-area Member States with considerable problems in their public finances. The assistance took various forms. As the crisis first manifested itself in Greece, Member States engaged in a scheme of bilateral agreements (for €80 billion) between the euro-area Member States and Greece, with the exception of Slovakia, supplemented by the IMF (International Monetary Fund) (€30 billion) under strict conditionality supervised by the Commission, the European Central Bank (ECB) and the IMF. The successive reports of the 'troika' had to allow for the piecemeal allocation of €110 billion. The last tranche, of 8 billions euros, was allocated in November 2011.
Publication Year: 2012
Publication Date: 2012-04-16
Language: en
Type: book-chapter
Indexed In: ['crossref']
Access and Citation
Cited By Count: 13
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