This Treaty will in effect put a end to the right of any single country or small group of countries to exercise a veto, The Eurogroup represents stable enhanced cooperation. Unlike the EFSF, the ESM is an institution under the Treaty. The Community method is once again gaining ground after the blossoming of intergovernmental agreements.
The rules for fiscal and macroeconomic governance have been created or reinforced with strict criteria. Despite some initial delays in the financial front, things are also starting to move forward in this front, with the creation of the European Supervisory Authorities, the “single rulebook” and the future directive on management and crisis resolution.