Treaty establishing the European stability mechanism between the Kingdom of Belgium, the Federal Republic of Germany, the Republic of Estonia, Ireland, the Hellenic Republic, the Kingdom of Spain, the French Republic, the Italian Republic, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Grand Duchy of Luxembourg, Malta, the Kingdom of the Netherlands, the Republic of Austria, the Portuguese Republic, the Republic of Slovenia, the Slovak Republic and the Republic of Finland

Party

Bulgaria added

• Ratification: 09-06-2026 (A)
• Entry into force: 29-06-2026
• Reservations / Declarations: No
• Objections: No

General information

• Entry into force: 27-09-2012

Kingdom part

Netherlands (in Europe)

• Entry into force: 27-09-2012

Party

Austria

• Signature: 02-02-2012
• Ratification: 30-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Belgium

• Signature: 02-02-2012
• Ratification: 26-06-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Croatia

• Ratification: 02-03-2023 (A)
• Entry into force: 22-03-2023

Latvia

• Ratification: 21-02-2014 (A)
• Entry into force: 13-03-2014

Lithuania

• Ratification: 14-01-2015 (A)
• Entry into force: 03-02-2015

Cyprus

• Signature: 02-02-2012
• Ratification: 28-06-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Estonia

• Signature: 02-02-2012
• Ratification: 03-10-2012 (R)
• Entry into force: 04-10-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Finland

• Signature: 02-02-2012
• Ratification: 29-06-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

France

• Signature: 02-02-2012
• Ratification: 02-04-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Germany

• Signature: 02-02-2012
• Ratification: 27-09-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Greece

• Signature: 02-02-2012
• Ratification: 10-05-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Ireland

• Signature: 02-02-2012
• Ratification: 01-08-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Italy

• Signature: 02-02-2012
• Ratification: 14-09-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Luxembourg

• Signature: 02-02-2012
• Ratification: 31-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Malta

• Signature: 02-02-2012
• Ratification: 19-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Netherlands, the Kingdom of the

• Signature: 02-02-2012
• Ratification: 13-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Portugal

• Signature: 02-02-2012
• Ratification: 04-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Slovakia

• Signature: 02-02-2012
• Ratification: 29-06-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Slovenia

• Signature: 02-02-2012
• Ratification: 30-05-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.

Spain

• Signature: 02-02-2012
• Ratification: 02-07-2012 (R)
• Entry into force: 27-09-2012
• Reservations / Declarations: Yes
• Objections: No

• reservation
  27-09-2012
  The representatives of the parties to the Treaty establishing the European Stability Mechanism (ESM) signed on 2 February 2012, meeting in Brussels on 27 September 2012, agree on the following interpretative declaration: "Article 8(5) of the Treaty Establishing the European Stability Mechanism ("the Treaty") limits all payment liabilities of the ESM Members under the Treaty in the sense that no provision of the Treaty may be interpreted as leading to payment obligations higher than the portion of the authorised capital stock corresponding to each ESM Member, as specified in Annex II of the Treaty, without prior agreement of each Member's representative and due regard to national procedures. Article 32(5), Article 34 and Article 35(1) of the Treaty do not prevent providing comprehensive information to the national parliaments, as foreseen by national regulation. The above mentioned elements constitute an essential basis for the consent of the contracting States to be bound by the provisions of the Treaty.