State of play in EU 'austerity' treaty ratification
(BRUSSELS) - The German-inspired "Treaty for Stability, Co-ordination and Governance" that sets rules for balanced budgets, was signed in January by the leaders of 25 European Union states minus Britain and the Czech Republic.
Ireland, which is the only signatory country obliged to put its ratification to a referendum, votes on Thursday.
ALREADY RATIFIED
Greece was the first to ratify the treaty in March, followed by Portugal and Slovenia in April and Romania in May. It must be ratified by a minimum of 12 nations before entering into force.
EXPECTED TO RATIFY WITHOUT A HITCH
Sweden's parliament is due to pronounce its verdict on Wednesday while Denmark's lawmakers pass their judgement on Thursday.
Ratification is underway in Spain, Italy, Poland and Latvia, amid expectations that procedures will be completed before the summer break.
There is no set timetable yet in Austria, Belgium, Bulgaria, Cyprus, Estonia, Finland, Hungary, Lithuania, Luxembourg, Malta, the Netherlands or Slovakia. None of these states though anticipate problems, although Belgium, where one federal and five regional community-based parliaments must also give their assent, expect the process to be more drawn out.
POTENTIALLY PROBLEMATIC
France, where President Francois Hollande fears the treaty will enshrine permanent austerity. During his election campaign, Hollande originally sought to re-negotiate the pact but subsequently indicated he could accept a related "growth" pact set to be negotiated by leaders at an end-June summit.
Germany, where the treaty forces a change of the country's constitution. That in turn requires a two-thirds majority in the lower house of parliament -- which implies winning opposition votes. The problem is that social democrats and Greens will want to extract conditions in exchange for their support -- such as growth measures and a strong commitment to implement a tax on financial transactions. The June 28-29 summit falls a week before both German houses of parliament close for summer recess on July 6.
Ireland, with its referendum is always risky despite apparently favourable polling. Popular votes initially rejected the treaties of Nice in 2001 and Lisbon in 2008 before the results were overturned in repeat referendums.
NOT PARTY TO THE TREATY
Britain and the Czech Republic refused to join the treaty.