BRUSSELS: Bailouts will only be offered to European governments that ratify a new budget pact aimed at avoiding a repeat of the eurozone debt crisis, according to a new draft of the treaty.
“The granting of assistance in the framework of new programmes under the European Stability Mechanism (ESM) will be conditional, as of March 1, 2013, on the ratification of this treaty,” according to the draft, seen 11 days before an European Union (EU) summit due to approve the document.
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