ESM Approved by Austrian Parliament

People ♦ Published: July 6, 2012; 20:05 ♦ (Vindobona)

The controversial European Stability Mechanism was ratified by the Austrian National Council. The right opposition parties criticized the approval massively.

ESM Approved by Austrian Parliament / Picture: ©

The governing parties SPÖ and ÖVP ratified the ESM together with the opposition party „The Greens“. In Austria, the ESM ratification needs a two-third majority oft he members of the National Council. Without the consent of the Green Party, SPÖ and ÖVP would not have been able to ratify the ESM. Austria´s guarantees will amount to € 19.5bn. In total, ESM´s size comes at €…