I propose to take Questions Nos. 93, 111 to 114, inclusive, 116, 118, 119, 122, 126 and 127 together.
When agreement was reached at the European Council in December to put in place new arrangements to enhance the stability of the euro area, Ireland made clear its preference for proceeding within the framework of the EU Treaties, and with the involvement of all 27 Member States. This did not prove possible, so it was agreed to proceed with a separate Treaty among those wishing to participate. Agreement on these new arrangements — set out in the "Treaty on Stability, Coordination and Governance in the Economic and Monetary Union"— was reached at the end of January by Heads of State and Government.
It is intended that the Treaty will be signed in the margins of the meeting of the European Council on 1/2 March, and that it will then be ratified by each of the Contracting Parties, in accordance with their respective constitutional requirements. It will enter into force once twelve Contracting Parties whose currency is the euro have ratified it. The target date for entry into force is 1 January 2013.
The question of whether an amendment of the Constitution will be required in order for Ireland to ratify the Treaty is currently being examined by the Attorney General, who will present her advice to the Government in due course. The Government has made it clear that if a referendum is required, one will be held.
It is a matter for other Contracting Parties to decide what approach they will take, taking into account their own constitutional requirements. It would not be appropriate for me to comment on what this might entail in each case.
The Treaty sets out how it will apply to Contracting Parties once it has entered into force and once they have ratified it. As with all international agreements, once they are bound by it, there will be a legal obligation on Contracting Parties to abide by its provisions. Article 8 of the Treaty provides for a role for the EU Court of Justice where possible breaches of Article 3.2, on the deficit brake, is concerned.
I am, of course, disappointed that it was not possible to proceed with the agreement of all 27 EU Member States. This was the Government's strong preference, though I respect the rights of partners to decide the best approach from their respective perspectives.
I would of course, welcome participation by all Member States, and would note that Article 15 makes it clear that the new Treaty "shall be open to accession by Member States of the European Union other than the Contracting Parties".
Furthermore, Article 16 of the new Treaty provides that "within five years, at most" of the new Treaty entering into force "the necessary steps shall be taken�with the aim of incorporating the substance of this Treaty into the legal framework of the European Union". This is a most welcome provision, and the Government hopes that such incorporation can take place at as early a date as possible.
In the meantime, it is important to recognise that, while the arrangements are not part of the EU Treaties, Article 2 makes it clear that the new Treaty "shall be applied and interpreted by the Contracting Parties in conformity with the Treaties on which the European Union is founded".
Furthermore, the new Treaty shall apply only "insofar as it is compatible with the Treaties on which the European Union is founded and with European Union law". This is an important provision that the Government argued for and strongly supports.
Finally, while the new Treaty is not part of the EU Treaties, many of its provisions are already found in EU Treaties or law, including within the Stability and Growth Pact, as strengthened by the six legislative measures adopted last year — the so-called "six-pack".