Formally, the Treaty of Lisbon amends the Treaty on European Union (TEU) and the Treaty establishing the European Community (TEC), but historically the Lisbon Treaty is the (interim) end result of a treaty reform process launched when the Treaty of Nice was signed in 2001.
Therefore, we compare Article 128 of the Treaty on the Functioning of the European Union (TFEU), not only with the current treaty (TEC), but with the previous stages of the treaty reform process, the draft Constitution (2003) and the Constitutional Treaty (2004).
Lisbon Treaty comparison
Substantially, not much has happened.
Article III-78(1) of the draft Constitution wrote the European Central Bank in full, and it added the word ‘euro’ before banknotes. The third sentence was slightly rephrased, and ‘Union’ replaced ‘Community’. Similar editorial changes were made to the second paragraph, but the European Parliament was downgraded by the move from the cooperation procedure to the consultation procedure.
The IGC 2004 left the provision almost untouched. The Council of Ministers became the Council in the Constitutional Treaty, but this was a general choice of terminology. The second paragraph was divided into two subparagraphs, making it somewhat easier to read, but the substance remained the same.
The IGC 2007 made the minimum changes to Article 106 TEC needed to achieve the same result in substance as the Constitutional Treaty, so the second paragraph of Article 128 TFEU remains undivided and there are minimal differences in wording between the TFEU and the Constitution.