“The granting of assistance in the framework of new programs under the European Stability Mechanism (ESM) will be conditional, as of March 1, 2013, on the ratification of this treaty,” says the draft text, which is being prepared for a Jan. 30 EU summit due to give its approval.
Negotiators working on a pact to be signed by 26 of the 27 European Union states - with Britain the odd man out - toughened up the pact in many respects ahead of planned talks between all 27 finance ministers last week in Brussels.
The document spells out for the first time that no loans will be made to governments that refuse to sign up to the pact …
