The news in NL: EU reaches ‘historic’ budgetary pact: De Jager
What our MSM is not telling us: RED ALERT: EU Finance Ministers Push Through ESM Treaty in Fishy Fly-by-Night Move.
Europe’s most important treaty on the European Stability Mechanism (ESM), which will lead the EU into a financial dictatorship, has been pushed through by EU finance ministers late Monday evening.
But the latest version of the ESM cannot be found on English and German EU websites. A link on consilium EU only leads to a ‘file not found’ message and the German EU website “Europa von A – Z” does not mention the ESM at all. (…)
It is all the more troubling that last night’s agreement changes have not been communicated by the EU at all. It reminds one of the ACTA act that was signed in a non-public meeting of the Agriculture and Fishing Commission and is designed to destroy the freedom on the internet.
See also this here. So that is what Jan-Kees and the entire Rutte cabinet mean by ‘historic deal’: selling out all of us to a cabal of Goldmann-Sachs types with full immunity. To Hitler and Stalin, but with option packages and mega-bonuses. And these people are suprised we hate their guts to the point of gladly wanting to see them swinging from lamp posts and bridge overhangs.
Elsewhere, the ECB is threatening Ireland with a bomb going off in Dublin, should the Emerald Isle think of defaulting on debt. Oh, and Germany will start with abolishing cash transaction as of this summer. As per EUnion directives. Because cash is (too) anonymous.
Are you scared yet? If not, why not? This is a financial dictatorship in the making.
On the other hand, as to the ESM deal, confusion reigns supreme.
As yet we don’t have any official confirmation. But it’s clear from the Finnish media that their Finance Minister insisted on (and got) 85% consensus for any and all dispensing of bailout money. The lady concerned – social democrat Jutta Urpilainen – is clearly somebody who could teach Camerlot a thing or two about (a) paying attention and then (b) sticking around to bully the bullies.
But there remains enormous confusion about the size of this ESM. While writing this, I have had breaking input from The Slog’s Bankfurt Mole that – as he feared – Merkel is ready to compromise on the size of the fund – the Spiegel piece also confirms this. But Mario Monti wants a $750bn fund “at least”, Christine Lagarde and Mario Draghi want a $1 trillion fund, and the markets (along with the Americans) would like one 2.4 times the size. There’s a twist in the tail, too: raising the capital of the ESM will also require the 85% consensus upon which Finland has insisted. Won’t that be fun.
Much of this list-wishing, however, remains a fantasy: Eurozone countries are required to provide a total of €80bn in cash capital to the new ESM, but as six of them are broke, in practice very few will partake to any great extent: Berlin admits that its minimum contribution will be around €22bn. There will be a deal of argie-bargie in the Bundestag when CDU senior players realise that, in reality, Germany will have to cough up rather more than that.
So maybe these panic stricken flights into full dictatorship will be thwarted by events (like hedgies opting for a ‘credit event’, not a debt swap deal, in Greece). But we should take note of the eagerness with which these easily frightened little men and women are willing to sell out our God-given freedoms and the future of our children, so as to have the party, started after WW2, last just a few days longer, a couple of bonuses more. And we should remember their names and faces for when the time has arrived for the Reckoning.