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Is this an error in the Stability/Fiscal Treaty?

  • 30-04-2012 10:11pm
    #1
    DunLigger
    Registered Users, Registered Users 2 Posts: 7 ✭


    Call me pedantic Pat, but in the treaty it says:
    "This Treaty shall enter into force on 1 January 2013, provided that twelve Contracting Parties whose currency is the euro have deposited their instrument of ratification, or on the first day of the month following the deposit of the twelfth instrument of ratification by a Contracting Party whose currency is the euro, whichever is the earlier."


    It seems to me that the intention is that it should start on the 1/1/2013 if 12 euro area countries have ratified, if not then as soon after that date as 12 such countries have ratified.


    If that is indeed the intention then shouldn't they have used the term "later" instead of "earlier". As it stands the treaty could come into force on the 1 June 2012 if 12 contracting countries had deposited the instrument of ratification - which I don't think is what was intended (but I might be wrong on this).


    Am I missing something?
    Tagged:


Comments

  • #2
    Slydice
    Registered Users, Registered Users 2 Posts: 10,501 ✭✭✭✭Slydice


    Nope, they could well want it to come into force earlier. Gives them more options.


  • #3
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    If the twelve countries have ratified it, then why not put it in force immediately?

    I'm presuming that the 01/01/13 is there so that if the twelfth country ratifies it on (for example) the 01/02/2013, the treaty comes into force retrospectively for the previous month.


  • #4
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    DunLigger wrote: »
    Call me pedantic Pat, but in the treaty it says:
    "This Treaty shall enter into force on 1 January 2013, provided that twelve Contracting Parties whose currency is the euro have deposited their instrument of ratification, or on the first day of the month following the deposit of the twelfth instrument of ratification by a Contracting Party whose currency is the euro, whichever is the earlier."


    It seems to me that the intention is that it should start on the 1/1/2013 if 12 euro area countries have ratified, if not then as soon after that date as 12 such countries have ratified.

    It means that the ratification process has to be done before the christmas break this year. It can come into effect earlier if enough (euro currency) member states ratify it.


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