Article 144 [Protective Measures]

Article 144 TFEU, which is part of EU law from the outset (ex-Article 109 TEEC), should be read together with Article 143 TFEU. Article 144 TFEU also applies only to MS with a derogation. It is activated when an MS outside the euro area is confronted with a balance of payments crisis and financial assistance under Article 143 TFEU is not available in time. Article 144 TFEU therefore must be understood as an exception to the procedure of Article 143 TFEU. A reading of Articles 143 and 144 TFEU clearly indicates they are closely inter-connected. When the balance of payments difficulties in an MS with a derogation explode suddenly and not least on a wider scale, Article 144 TFEU will be activated. Once the protective measures are adopted under Article 144 TFEU, the procedure prescribed in Article 143 TFEU to access financial facility and related matters will apply (➔ Article 143 TFEU para 23–32).