To ask Her Majesty's Government whether Article 125 of the Treaty on the Functioning of the European Union can be used to require member states to provide financial support to other member states in financial difficulty; and, if so, whether it can be applied to the United Kingdom.To which Lord Howell replied on behalf of the Coalition:
Paragraph 2 of Article 125 of the Treaty on the Functioning of the European Union offers scope for the definitions attaching to the prohibitions in Articles 123, 124 and 125 to be more clearly defined by the Council. Nevertheless, Article 125 clearly provides that the Union shall not be liable for or assume the commitments of any member state and that a member state shall not be liable for or assume commitments of another member state. It is our interpretation that the article cannot be used to require member states to provide financial support to other member states in financial difficulty.Well, that is good to know. However, it does not stop countries from "voluntarily" and as part of a "consensus" from offering help and if all the countries do so simultaneously, well that just will be a coincidence.