Member State seeking Union financial assistance
European
Commission Council (Ecofin)
European Commission
MoU
Council European Parliament ECB
In liaison with
EFSM Totstandkomingsproces MoU
EFSM Proces aanpassing programma, leidt tot wijziging MoU
European
Commission Council
SMoU
ECB In consultation with
Beneficiary Member State
European Commission and
Economic &
Financial Committee (EFC) Member State
seeking Union financial assistance
European Commission
Economic &
Financial Committee (EFC) Gebaseerd op informatie in de Council Regulation establishing a European financial stabilisation mechanism
Gebaseerd op informatie in de Council Regulation establishing a European financial stabilisation mechanism
Economic &
Financial Committee (EFC) Discusses
assessment of financial needs with Commission
in liaison with ECB
Submits draft economic and financial
adjustment programme
Does proposal on Union financial
assistance
Decides on granting Union financial assistance, by QMV
Concludes, with the Member State, an
MoU
Communicates MoU to EP and
Council Re-examines, in consultation with ECB, the general
economic policy conditions at least every six months and discusses with the beneficiary Member State the changes that may be needed to its adjustment
programme
Proposal to Council (via EFC) on adjustment to initial general economic policy conditions and revision adjustment
programme
Decides by QMV on adjustments
