The Supreme Court ruled on Thursday that the Treaty Establishing the European Stability Mechanism (ESM) is in accordance with the Constitution of Estonia. “Although the contested article restricts the financial competence of the Estonian Parliament, the principle of rule of law and the sovereignty of Estonia, the restriction is justified,” a statement published on Thursday said.
The explanation continued: “The Supreme Court considered the restriction arising from the article, i.e. the decrease of the power to decide the use of public finances. On the other hand, the Supreme Court considered the purpose of the contested article - to ensure an efficient decision-making procedure in case of a threat to the financial stability of the euro area, including Estonia.
The explanation continued: “The Supreme Court considered the restriction arising from the article, i.e. the decrease of the power to decide the use of public finances. On the other hand, the Supreme Court considered the purpose of the contested article - to ensure an efficient decision-making procedure in case of a threat to the financial stability of the euro area, including Estonia.
Stability is necessary in order for Estonia to be able to perform its obligations arising from the Constitution, including ensuring the fundamental rights of people.”
Read more: Estonian Supreme Court Upholds ESM Treaty as Constitutional | Politics | News | ERR
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