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Europe Live Thursday 23rd May 2013

The Austrian President ratifies the ESM and the European Budgetary Pact

23rd July 2012

The Austrian President Heinz Fischer signed the European Stability Mechanism (ESM) as well as the Europan Budgetary Pact on 17th June 2012, thereby completing his country's ratification of these two texts. Austria is due to participate to a total of 2.8% in the ESM, ie a payment of 2.2 billion euro and 17.3 billion euro in guarantees out of a 500 billion euro capacity in all. With regard to the ratification of the European budgetary pact the Robert Schuman Foundation has updated a summary table of the ratifications in the Union's various countries. It also offers its readers an explanatory paper on the treaty.

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