Independent TD Thomas Pringle has said he is “extremely pleased” that the Supreme Court has today decided to refer three questions to the European Court of Justice on the validity of the ESM Treaty.
“I commenced this action because I was very concerned about the legality of the ESM under Irish and European law and I am extremely pleased that the Supreme Court has agreed with my concerns and decided to refer three questions on the ESM to the court of justice for adjudication.
The Killybegs-based Deputy said in doing this he has achieved what he set out to do in having this Treaty considered in all its implications and tested against our constitution and the EU Treaties.
The Supreme Court is asking the ECJ to consider three issues;
1: Whether European Council Decision 2011/199/EU of 25th March 2011 is valid?
2: Is a Member State of the EU whose currency is the Euro entitled to enter into and ratify an international agreement such as the ESM Treaty?
3: IF the European Council decision is valid, is the entitlement of a Member State to enter into the ESM Treaty subject to the entry into force of the council decision of 25th March 2011?
‘The Supreme Court refused my application for an injunction to prevent the state ratifying the ESM Treaty because in the words of the court ‘should the appellant be successful that will be an adequate remedy’ because the state has said that if the ECJ rules in my favour the state will withdraw from the ESM if they have ratified it by then’ continued Pringle.
‘If ratification now takes place we are in danger of having committed over €500m in capital contributions by the time that the ECJ rules and if they decide in my favour it is doubtful if we could recover that money’ concluded Pringle.”
The court has now adjourned the case pending the outcome of the reference.
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