At a regular sitting, held on July 4 2012, the Committee on European Affairs and Oversight of the European Funds (CEAOEF) discussed on the ratification of the European Council decision amending Article 136 of the Treaty on the Functioning of the European Union with regard to a stability mechanism for Member States whose currency is the euro.
The amendment is part of the EU measures against the euro crisis and it is connected with the Treaty establishing the European Stability Mechanism signed by the 17 Euro-area countries. This mechanism will replace the European Financial Stability Facility. The ESM will be activated when absolutely necessary and financial assistance will only be provided in order to ensure the Euro-area stability. The Member States shall receive financial support under concrete conditions and commitments.

CEAOEF considers that Bulgaria should support the joint efforts for euro stabilization and overcoming the debt crisis. The ratification of Article 136 is an in-principle support for the actions at EU level. Currently it does not lead to any financial commitments for Bulgaria as our country is not part of the Euro-area and, respectively, it is not a party to the Treaty establishing the European Stability Mechanism.
The official data shows that by June 15 2012, the amendment of Article 136 of the Treaty on the Functioning of the European Union has been ratified by 19 Member States.