Summary

The article analysis some of the legal issues related to the judicial dispute on the ESM, concerning which a significant public discussion has arisen after a public session of the Supreme Court en banc on 8 May. The article tackles a possibility of making a reservation that would preclude the legal effect of Article 4 (4) the Treaty establishing the ESM; connection of the Treaty establishing the ESM with the EU law; responsibility of the EU Member States for integration and the obligation to ensure stability of the national sovereignty and currency; also the control function of the Riigikogu and protection of budget competence upon applying Article 4 (4) of the TEESM.

The article is based on the opinion presented by the Ministry of Justice on behalf of the Government of the Republic to the Supreme Court with regard to constitutionality of Article 4 (4) of the Treaty establishing the ESM.