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EC Law

Volume 505: debated on Wednesday 10 February 2010

To ask the Secretary of State for Foreign and Commonwealth Affairs what assessment he has made of the scope and application of Article 122 of the Treaty on the Functioning of the European Union; whether he has sought legal advice on the scope and application of Article 122; what assessment he has made of any financial liability arising from the use of Article 122 to provide financial assistance to an EU member state in financial difficulties; and if he will make a statement. (315693)

The scope and application of Article 122 were subject to extensive debate during the passage of the Lisbon Treaty Bill. Any request for financial support in accordance with Article 122 would need to satisfy the specific criteria set out in the Treaty on the Functioning of the European Union and would be considered on its individual merits by the EU Economic and Financial Affairs Council, where it would be voted upon by qualified majority.