VIII - ESM Treaty

The European Stability Mechanism (ESM) Treaty was signed on July 11 2011. It was later renegotiated and a new ESM Treaty was signed on February 2, 2012. The Treaty provides a permanent emergency fund that is intended to succeed the temporary emergency funds. It entered into force on September 27, 2012 for 16 contracting parties (Estonia completed ratification on October 3). The 17 contracting parties are the member states of the Eurozone, but the ESM Treaty is concluded outside EU law.      
http://www.european-council.europa.eu/eurozone-governance/esm-treaty-signature?lang=it and http://www.esm.europa.eu/pdf/FAQ%20ESM%2008102012.pdf)

What political/legal difficulties
did Poland encounter in the negotiation of the ESM Treaty, in particular in relation to the implications of the treaty for (budgetary) sovereignty, constitutional law, socio-economic fundamental rights, and the budgetary process.

On 31 January 2012 the Senat’s Budget and Public Finances Committee and the EU Affairs Committee discussed some aspects of the ESM Treaty at their joint meeting.[1]  The Senators asked the following questions: whether signing the Fiscal Compact will oblige Poland to pay contributions to the ESM and whether signing the ESM Treaty it is the only way to get funds from the ESM.[2] In reply, the representative of the Ministry of Finance underlined that the decision about signing the ESM Treaty will need to be taken at the moment when Poland will be joining the Eurozone.[3] Similar problems were later discussed by the ratification of the Fiscal Compact in the Senat, including the question of how much Poland would have to contribute to the ESM.[4]

How has the ESM Treaty been ratified in Poland and on what legal basis/argumentation?

Not relevant for Poland.

Ratification difficulties  
What political/legal difficulties
did Poland encounter during the ratification of the ESM Treaty?

Not relevant for Poland.

Case law          
Is there a (constitutional) court judgment on the ESM Treaty?


Capital payment    
What is the role of Parliament in the payment of the (first instalment of) paid-in capital required by the ESM Treaty (article 36 ESM Treaty)? What relevant debates have arisen in relation to this payment?    

Not relevant for Poland.

Application & Parliament
What is the role of Parliament in the application of the ESM Treaty, for example with regard to decisions to grant financial assistance and the disbursement of tranches, which both require unanimous adoption by the Board of Governors composed of the national Finance Ministers.

Not relevant for Poland.

Application difficulties      
What political/legal difficulties
did Poland encounter in the application of the ESM Treaty?

Not relevant for Poland.


Have there been any relevant changes in national legislation in order to implement or to comply with requirements set by the ESM-Treaty?

Not relevant for Poland.

What other information is relevant with regard to Poland and the ESM Treaty?

No other relevant information.

[1]  Zapis stenograficzny ze wspólnego posiedzenia Komisji Budżetu i Finansów Publicznych (Nr 9) oraz Komisji Spraw Unii Europejskiej (Nr 11), 31.01.2012.

[2]  Id, pp.10-12.

[3]  Id, p. 28.

[4]  27. Posiedzenie Senatu, 21.02.2013, p.126, http://www.senat.gov.pl/prace/senat/posiedzenia/przebieg,39,1.html