The Bulgarian parliament ratified the European Council’s decision of 25 March 2011 for amendment of art. 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 decision introduces an European Stability Mechanism(type of international organization) for the Member States whose currency is the euro to deal with provision of financial assistance, making it conditional on mandatory requirements for the states receiving it. Bulgaria is not a party to the Treaty establishing the Stability Mechanism, therefore has not the obligation to ratify it. At the same time the amendment of art. 136 of the Treaty on the Functioning of the European Union have to be ratified by all Member States in order for the Stability Mechanism to take effect.
The Minister of Foreign Affairs Nikolay Mladenov noticed that with the ratification, the National Assembly takes part in the process of providing better instruments to the European Union to resolve the financial crisis. He explained that the amendment to the Treaty on the Functioning of the European Union creates the legal basis for the establishment of the Stability Mechanism in the eurozone.