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Document 11992E109H

    TREATY ESTABLISHING THE EUROPEAN COMMUNITY
    TITLE IV - ECONOMIC AND MONETARY POLICY
    CHAPTER 4: TRANSITIONAL PROVISIONS
    ARTICLE 109H

    /* CODIFIED VERSION OF THE TREATY ESTABLISHING THE EUROPEAN COMMUNITY */

    HL C 224., 1992.8.31, p. 41 (ES, DA, DE, EL, EN, FR, IT, NL, PT)

    Legal status of the document In force

    ELI: http://data.europa.eu/eli/treaty/tec_1992/art_109h/oj

    11992E109H

    TREATY ESTABLISHING THE EUROPEAN COMMUNITY - TITLE IV - ECONOMIC AND MONETARY POLICY - CHAPTER 4: TRANSITIONAL PROVISIONS - ARTICLE 109H /* CODIFIED VERSION OF THE TREATY ESTABLISHING THE EUROPEAN COMMUNITY */

    Official Journal C 224 , 31/08/1992 P. 0041


    Article 109h

    1. Where a Member State is in difficulties or is seriously threatened with difficulties as regards its balance of payments either as a result of an overall disequilibrium in its balance of payments, or as a result of the type of currency at its disposal, and where such difficulties are liable in particular to jeopardize the functioning of the common market or the progressive implementation of the common commercial policy, the Commission shall immediately investigate the position of the State in question and the action which, making use of all the means at its disposal, that State has taken or may take in accordance with the provisions of this Treaty. The Commission shall state what measures it recommends the State concerned to take.

    If the action taken by a Member State and the measures suggested by the Commission do not prove sufficient to overcome the difficulties which have arisen or which threaten, the Commission shall, after consulting the Committee referred to in Article 109c, recommend to the Council the granting of mutual assistance and appropriate methods therefor.

    The Commission shall keep the Council regularly informed of the situation and of how it is developing.

    2. The Council, acting by a qualified majority, shall grant such mutual assistance; it shall adopt directives or decisions laying down the conditions and details of such assistance, which may take such forms as:

    (a) a concerted approach to or within any other international organizations to which Member States may have recourse;

    (b) measures needed to avoid deflection of trade where the State which is in difficulties maintains or reintroduces quantitative restrictions against third countries;

    (c) the granting of limited credits by other Member States, subject to their agreement.

    3. If the mutual assistance recommended by the Commission is not granted by the Council or if the mutual assistance granted and the measures taken are insufficient, the Commission shall authorize the State which is in difficulties to take protective measures, the conditions and details of which the Commission shall determine.

    Such authorization may be revoked and such conditions and details may be changed by the Council acting by a qualified majority.

    4. Subject to Article 109k(6), this Article shall cease to apply from the beginning of the third stage.

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