The Resolution provides, on the basis of the European Financial Stability Facility Framework Agreement and amendments thereto and with the aim of guaranteeing the financial stability of the euro zone, in order to support the member states of the euro zone that have fallen into financial difficulties due to extraordinary circumstances, as of entry into force of this Resolution until termination of the EFSF, the granting of guarantees to the principal amount of the debt obligations of the EFSF without a guarantee premium in the amount of up to 1,994,860,000 euro, to which interests on these debt obligations will be added. The Government has to submit to the Riigikogu for approval the draft of a new Memorandum of Understanding to be entered into between the European Commission and a member state of the euro zone on granting financial assistance connected with the guarantee targeted at and granted to the member state of the euro zone. The Government also has to submit to the European Union Affairs Committee for provision of an opinion the draft of amendments to this memorandum and the draft memorandum which aims to enable preventive means, purchase of bonds or recapitalisation of credit institutions and other financial institutions.

 

The Resolution enters into force simultaneously with the entry into force of the Act on Amendments to the State Budget Act and the Riigikogu Rules of Procedure and Internal Rules Act, passed on 29 September 2011.

 

The third additional sitting began at 8.33 p.m. and ended at 9.59 p.m.

 

The Riigikogu Press Service