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TREATY ESTABLISHING A CONSTITUTION FOR EUROPE
PART-III: THE POLICIES AND FUNCTIONING OF THE UNION
TITLE-III: INTERNAL POLICIES AND ACTION
CHAPTER-II: ECONOMIC AND MONETARY POLICY
SECTION-1: ECONOMIC POLICY
ARTICLE III-183
ARTICLE III-183
1. The Union shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project. A Member State shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of another Member State, without prejudice to mutual financial guarantees for the joint execution of a specific project.
2. The Council, on a proposal from the Commission, may adopt European regulations or decisions specifying definitions for the application of the prohibitions laid down in Articles III-181 and III-182 and in this Article. It shall act after consulting the European Parliament.
Referred by:
ARTICLE III-192