1.
The medium-term financial assistance facility may be implemented by the Council on the initiative of: the Commission, acting pursuant to Article 119 of the Treaty in agreement with the Member State seeking Community financing; a Member State experiencing, or seriously threatened with, difficulties as regards its balance of current payments or capital movements.
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Source: EUR-Lex (Cellar) · retrieved 2026-11-01 · Text as adopted (Official Journal); later amendments are not incorporated in this text.