European balance of power Austria which continued to rule as Holy Roman Emperor. Hapsburg Austria did directly control some states outside of the Holy Roman Empire. It was France who took the status of dominant continental power from the Habsburgs thanks to the Treaty of Westphalia and the Treaty of the Pyrenees. In the 16th and 17th centuries, English foreign policy strove to prevent a creation of a single universal monarchy in Europe, which many believed France or Spain might attempt to create. To maintain the balance of power, the English made alliances with other states—including Portugal, the Ottoman Empire, and the Netherlands—to counter
Treaty Establishing the European Stability Mechanism voting rights be a possible sanction, as that would require a deeper treaty amendment. The treaty was designed so there would be no need for referendums, allowing for a speedy ratification process, with the aim to have it come into force in July 2012. In March 2011, the European Parliament approved the treaty amendment after receiving assurances that the European Commission, rather than EU states, would play 'a central role' in running the ESM, despite wishing it had been more involved earlier, and it was signed by all 27 EU member states on 25 March 2011. A separate treaty among