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President Ilves’ statement to the media regarding the ruling of the Supreme Court to reject the motion by the Chancellor of Justice to declare the treaty establishing the European Stability Mechanism incompatible with the Estonian constitution

12.07.2012

I recognise the Chancellor of Justice for raising this issue and the Supreme Court for its thorough analysis. I am glad that the Supreme Court finds the treaty on establishing the European Stability Mechanism constitutional.

It is important for the well-being of the people of Estonia and the sustainability of the Estonian state that we participate in the European Union and the eurozone. There is no better option for Estonia. Here, the efficient decision-making process of the ESM is justified, or to be precise – vital. Even if it limits our current decision-making abilities in the face of danger to the eurozone, and therefore Estonia. That is also the conclusion of the Supreme Court.

In this issue, I consider it essential that the authorities – the parliament, the government, all decision-makers – honestly and comprehensively explain the situation of the eurozone and Estonia's options to the people. I am certain that the people will back sensible choices.

Let us hope that the ratification of the ESM treaty in Riigikogu this summer will also turn into a substantive discussion about the eurozone and the future of the European Union in general.

It is us who take part in shaping the future of the European Union. Further developments of the eurozone may require supplementing the Estonian constitution. This can be done with a referendum. At the moment, those kinds of developments are not foreseeable.

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