73b.
ARTICLE 73e
By way of derogation from Article 73b, Member States which, on 31
December 1993, enjoy a derogation on the basis of existing
Community law, shall be entitled to maintain, until 31 December 1995
at the latest, restrictions on movement of capital authorized by such
derogations as exist on that date.
ARTICLE 73f
Where, in exceptional circumstances, movement of capital to or from
third countries cause, or threaten to cause, serious difficulties for the
operation of economic and monetary union, the Council, acting by a
qualified majority on a proposal from the Commission and after
consulting the ECB, may take safeguard measures with regard to third
countries for a period not exceeding six months if such measures are
strictly necessary.
ARTICLE 73g
1. If, in the cases envisaged in Article 228a, action by the Community
is deemed necessary, the Council may, in accordance with the
procedure provided for in Article 228a, take the necessary urgent
measures on the movement of capital and on payments as regards the
third countries concerned.
2. Without prejudice to Article 224 and as long as the Council has not
taken measures pursuant to paragraph 1, a Member State may, for
serious political reasons and on grounds of urgency, take unilateral
measures against a third country with regard to capital movements
and payments. The Commission and the other Member States shall be
informed of such measures by the date of their entry into force at the
latest.
The Council may, acting by a qualified majority on a proposal from the
Commission, decide that the Member State concerned shall amend or
abolish such measures. The President of the Council shall inform the
European Parliament of any such decision taken by the Council.
ARTICLE 73h
Until 1 January 1994, the following provisions shall be applicable:
1) Each Member State undertakes to authorize, in the currency of the
Member State in which the creditor or the beneficiary resides, any
payment connected with the movement of goods, services or capital,
and any transfers of capital and earnings, to the extent that the
movement of goods, services, capital and persons between Member
States has been liberalized pursuant to this Treaty.
The Member States declare their readiness to undertake the
liberalization of payments beyond the extent provided in the preceding
subparagraph, in so far as their economic situation in general and the
state of their balance of payment in particu