Government initiates ESM ratification following refusal to Pringle of injunction

The Government has initiated its ratification of the European Stability Mechanism treaty following this week’s refusal by the Supreme Court to grant Independent TD Thomas Pringle an injunction to halt the process.

The instrument of ratification, signed by Tánaiste and Minister for Foreign Affairs and Trade Eamon Gilmore, was lodged yesterday at the Agreements Office of the European Council secretariat in Brussels by the Irish Embassy to the European Union.

Fine Gael TD Damien English, said the treaty gave Ireland enhanced financial security.

The Supreme Court refused on Tuesday to grant Mr Pringle an injunction restraining the Government from ratifying the ESM treaty before the European Court of Justice rules on its lawfulness. The treaty provides for a bailout fund for distressed euro zone states.