The Saeima¹ has adopted and
the President has proclaimed the following law:

On Treaty Establishing the European Stability Mechanism

Section 1. The Treaty Establishing the European Stability Mechanism (hereinafter - the Treaty), signed on 2 February 2012, shall be adopted and approved by this law with regard to Resolution of 8 October 2012 No. 11 "Establishment of the maximum lending volume" (hereinafter - the Resolution No. 11) of the European Stability Mechanism's Board of Governors (hereinafter - the Board of Governors) and Treaty adaptations that have been made in direct relation with the accession of the Republic of Latvia and developed pursuant to Article 44 of the Treaty, and approved by Resolution of 23 October 2013 No. 3 "Approval of the adaptations to be made to the Treaty as a direct consequence of the accession of the Republic of Latvia" (hereinafter - the Treaty adaptations) of the Board of Governors.

Section 2. The Republic of Latvia shall undertake to be bound by detailed technical terms regarding the accession of the Republic of Latvia developed pursuant to Article 44 of the Treaty and approved by Resolution of 23 October 2013 No. 2 "Approval of the application for accession of the Republic of Latvia and the detailed technical terms related thereto" of the Board of Governors (hereinafter - the Technical Terms).

Section 3. The Republic of Latvia shall undertake to be bound by the Declaration on the European Stability Mechanism (hereinafter - the Declaration) signed in Brussels on 27 September 2012.

Section 4. Execution of contractual liabilities shall be coordinated by the Ministry of Finance. Representation of Latvia on the Board of Governors and Board of Directors shall be prescribed by a separate law.

Section 5. The Treaty shall come into force under the procedures and in the term set by Article 48(3) of the Treaty, and the Ministry of Foreign Affairs shall publish information thereon in the official gazette Latvijas Vēstnesis.

Section 6. The Law shall come into force simultaneously with the law "On Representation of Latvia on the Board of Governors and Board of Directors of the European Stability Mechanism". Together with this Law the Treaty, Resolution No. 11, Treaty adaptations, Declaration, as well as Technical Terms in Latvian shall be proclaimed.

This Law has been adopted by the Saeima on 30 January 2014.

Acting for the President,
The Chairperson of the Saeima, S. Āboltiņa

Riga, 10 February 2014

¹ The Parliament of the Republic of Latvia

Translation © 2017 Valsts valodas centrs (State Language Centre)