Sentences with phrase «eurozone members established»
In 2011, Eurozone members established the European Financial Stability Facility, providing emergency lending to troubled nations.
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The court's decision: Regarding Art. 136 (3) TFEU, the court said that the new possibility of establishing loan facilities for Eurozone members did weaken the principle of national budgetary autonomy, but that this weakening was balanced through the stabilizing impact such «aid payments» have on the currency union.