European court judgement due on Pringle’s ESM case

The Courts of Justice of the European Union will give a judgement today on the legal challenge brought by Donegal South West Deputy Thomas Pringle to Ireland’s use of the ESM.
The independent TD brought the challenge to Europe’s highest court, in an attempt to prevent the government from accessing the European Stability Mechanism bailout fund to support Ireland’s banks.
Thomas Pringle’s case centres on the 500-billion euro ESM fund, which the government wants to use to directly recapitalise AIB, Bank of Ireland and Permanent TSB.
The Donegal South West TD argues that changes to the EU treaties to allow for the creation of the fund were not properly enacted.
He also says that the changes to the treaties enable the ESM to override Europe’s no bailout clause.
However the Irish government, supported by Germany and 10 other EU countries, the legal service of the European Council, European Commission and the European Parliament, argue that there was nothing improper in the changes.
The Courts of Justice of the European Union will outline a judgement later today on Deputy Pringle’s legal challenge.