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ESM Approved by Austrian Parliament

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: © Flickr

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 €…

This article includes a total of 471 words.

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