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ESM Approved by Austrian Parliament
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Published: July 6, 2012; 20:05 ♦ (Vindobona)

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

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 €…
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