PART III: THE POLICIES AND FUNCTIONING OF THE UNION
TITLE III - INTERNAL POLICIES AND ACTION
CHAPTER II - ECONOMIC AND MONETARY POLICY
SECTION 4 - PROVISIONS SPECIFIC TO MEMBER STATES WHOSE CURRENCY IS THE EURO
ARTICLE III-194
1. In order to ensure the proper functioning of economic and monetary union,
and in accordance with the relevant provisions of the Constitution, the Council
shall, in accordance with the relevant procedure from among those referred to
in Articles III-179 and III-184, with the exception of the procedure set out
in Article III-184(13), adopt measures specific to those Member States whose
currency is the euro:
(a) to strengthen the coordination and surveillance of their budgetary discipline;
(b) to set out economic policy guidelines for them, while ensuring that they are compatible with those adopted for the whole of the Union and are kept under surveillance.
2. For those measures set out in paragraph 1, only members of the Council representing Member States whose currency is the euro shall take part in the vote.
A qualified majority shall be defined as at least 55% of these members of the Council, representing Member States comprising at least 65% of the population of the participating Member States.
A blocking minority must include at least the minimum number of these Council members representing more than 35% of the population of the participating Member States, plus one member, failing which the qualified majority shall be deemed attained.
ARTICLE III-195
Arrangements for meetings between ministers of those Member States whose currency
is the euro are laid down by the Protocol on the Euro Group.
ARTICLE III-196
1. In order to secure the euro's place in the international monetary system, the Council, on a proposal from the Commission, shall adopt a European decision establishing common positions on matters of particular interest for economic and monetary union within the competent international financial institutions and conferences. The Council shall act after consulting the European Central Bank.
2. The Council, on a proposal from the Commission, may adopt appropriate measures to ensure unified representation within the international financial institutions and conferences. The Council shall act after consulting the European Central Bank.
3. For the measures referred to in paragraphs 1 and 2, only members of the Council
representing Member States whose currency is the euro shall take part in the
vote.
A qualified majority shall be defined as at least 55% of these members of the Council, representing Member States comprising at least 65% of the population of the participating Member States.
A blocking minority must include at least the minimum number of these Council
members representing more than 35% of the population of the participating Member
States, plus one member, failing which the qualified majority shall be deemed
attained.