The Member States 25 March 1957, Consolidated version of the Treaty on the Functioning of the European Union#PART THREE - UNION POLICIES AND INTERNAL ACTIONS#TITLE VIII - ECONOMIC AND MONETARY POLICY#Article 119(ex Article 4 TEC)

If such consultation does not result in an agreement eliminating the distortion in question, the European, Parliament and the Council, acting in accordance with the ordinary legislative procedure, shall issue the necessary directives. Any other appropriate measures provided for in the Treaties may be adopted. Article 117 (ex Article 97 TEC) 1.