A second essential requirement from the ECB’s viewpoint was the need for a swift and efficient decision-making process, allowing for the resolution of a bank over a weekend. We welcome the fact that the text now caters for a swifter procedure, ensuring timely resolution decisions.
Pursuant to Articles III-184 paragraph 6 page 4 of the Treaty establishing a Constitution for Europe, by contrast, the vote of the representative of the member state in question would no longer be taken into account when deciding whether an excessive deficit exists. 8  Article 250 (1) of the EC Treaty.