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Document 11997E060

Treaty establishing the European Community (Amsterdam consolidated version)
Part Three: Community policies
Title III: Free movement of persons, services and capital
Chapter 4: Capital and payments
Article 60
Article 73g - EC Treaty (Maastricht consolidated version)

Legal status of the document In force

ELI: http://data.europa.eu/eli/treaty/tec_1997/art_60/oj

11997E060

Treaty establishing the European Community (Amsterdam consolidated version) - Part Three: Community policies - Title III: Free movement of persons, services and capital - Chapter 4: Capital and payments - Article 60 - Article 73g - EC Treaty (Maastricht consolidated version)

Official Journal C 340 , 10/11/1997 P. 0200 - Consolidated version
Official Journal C 224 , 31/08/1992 P. 0025 - Consolidated version


Treaty establishing the European Community (Amsterdam consolidated version)

Article 60

1. If, in the cases envisaged in Article 301, action by the Community is deemed necessary, the Council may, in accordance with the procedure provided for in Article 301, take the necessary urgent measures on the movement of capital and on payments as regards the third countries concerned.

2. Without prejudice to Article 297 and as long as the Council has not taken measures pursuant to paragraph 1, a Member State may, for serious political reasons and on grounds of urgency, take unilateral measures against a third country with regard to capital movements and payments. The Commission and the other Member States shall be informed of such measures by the date of their entry into force at the latest.

The Council may, acting by a qualified majority on a proposal from the Commission, decide that the Member State concerned shall amend or abolish such measures. The President of the Council shall inform the European Parliament of any such decision taken by the Council.

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