A European Monetary Fund: Giuliano Amato on the Legal Basis

Angels thought this exchange of emails with Giuliano Amato (who headed up the redrafting of the European Constitutional Treaty, which was then ratified as the Lisbon Treaty), might be of interest in the discussion on the setting up of a new economic governance for the European Union; and its implications.
If anyone should know whether the Lisbon Treaty, or any earlier treaty would need  to be re-opened, or further treaties on economic government are needed to  be put in place, and can be put in place, either freestanding or as a part, or parts, of other treaties, Giuliano Amato should.

On reading in so much of the anglophone media that a European Monetary Fund (a central institution for European economic governance) was an impossibility because of  insuperable Lisbon or other  treaty difficulties,  it seemed worth asking at the fountainhead.

Caro Giuliano,

"Sorry, no EMF - can't be done" parla da sé. Tu che questi trattati li scrivi, sei d'accordo che un EMF richiederebbe un nuovo trattato? Non ho cambiato idea sulla sua desiderabilità, ma mi stupisce che, volendolo fare, richieda un nuovo trattato.
...a risentirci presto,

["Sorry, no EMF  [European Monetary Fund, ed.] - can't be done" speaks for itself.  You, who write these treaties, are you in agreement that an EMF would require a new treaty?  I haven't changed view on its desirability, but it amazes me that, wanting one, it requires a new treaty.]

Yours as ever, ....

From: giuliano.amato
Sent: Tue 09/03/2010 19:01
To:
Subject:
Re:

Non un Trattato di revisione di Roma, Maastricht, sino a Lisbona, ma di sicuro un trattato che regoli il Fondo, perchè non c'è una legal basis comunitaria per una cosa del genere.
Comunque, se parte la campagna "it cannot be done" sono più fiducioso sulla concretezza crescente della cosa....

[Not a revised Treaty of Rome, Maastricht, up to and including Lisbon,  but certainly a treaty that regulates the Fund, because a community legal basis is not there for something of this kind.
However, if an "it cannot be done" campaign has started I am more certain of the growing reality of the thing....]
G.

From:

Date Sat, 27 Mar 2010 13:14:23
To:
Subject: citazione
Reply:

Caro Giuliano,

...in Grecia, tutto è bene quel che finisce bene, anche se poteva finire prima e meglio.
Sul Fondo Monetario Europeo mi avevi scritto che era necessario "Non un Trattato di revisione di Roma, Maastricht, sino a Lisbona, ma di sicuro un trattato che regoli il Fondo, perché non c'è una legal basis comunitaria per una cosa del genere". Ti si può citare? Molti commentatori inglesi sostengono che non è necessario, altri che non si può fare perché significherebbe riaprire Lisbona.  ...

[.....In Greece, all's well that ends well, even if it could have finished sooner and better.
On the European Monetary Fund you wrote to me that [a treaty] [cf email above, ed.] is necessary.  Can I cite you?  Many English commentators are arguing that it isn't necessary, others that it cannot be done because it means reopening Lisbon.

Affettuosità, .....

From: Giuliano Amato [mailto:
Sent:Sat 27/03/2010 16:11
To:
Subject: R: citazione

Si, con l'aggiunta che l'accordo ben potrebbe coinvolgere i soli stati della zona euro.

[Yes, with the addition that the agreement might well  involve only the eurozone states.]
G.

So yes, an 'accordo' is required for a European Monetary Fund.  Because, no, there is not a current community legal basis in any treaty for such a step. And that  only the eurozone countries might be involved.