Upcoming Events

National | EU

no events match your query!

New Events

National

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link Trump May Be Going Away, America’s Cla... Sat Dec 05, 2020 08:00 | Joel Kotkin

offsite link Mexican President: Mind Virus Lockdowns ... Sat Dec 05, 2020 04:33 | Associated Press

offsite link Selfless Democrats Go to Fancy Restauran... Fri Dec 04, 2020 09:30 | The Babylon Bee

offsite link UK Government Voids Quarantine Requireme... Fri Dec 04, 2020 08:30 | Marko Marjanović

offsite link Only Belgians Who Own a Yard Allowed Gue... Fri Dec 04, 2020 07:30 | Antonia Noori Farzan

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Second Karabakh-War Reshapes Transport Corridors In South Caucasus Fri Dec 04, 2020 13:25 | amarynth
South Front The Second Nagorno-Karabakh War not only led to a shift of the military political balance of power in the South Caucasus, but the agreements reached to put an

offsite link 80% of US partisan losers think the last 2 elections were stolen Fri Dec 04, 2020 10:29 | amarynth
by Ramin Mazaheri and crossposted with PressTV That?s a shocking headline, but true: Many are aware that 90% of Republicans currently agree that Joe Biden “did not legitimately win the

offsite link MH17 and the Southern Cauldron Thu Dec 03, 2020 22:23 | amarynth
Sam Bullard for the Saker Blog Executive Summary There are MH17 dots that should be connected but aren’t, possibly because the right questions haven’t been asked. This article examines existing

offsite link No Escape From Our Techno-Feudal World Thu Dec 03, 2020 17:30 | amarynth
By Pepe Escobar with permission and first posted at Asia Times The political economy of the Digital Age remains virtually terra incognita. In Techno-Feudalism , published three months ago in

offsite link Trump Administration Fights Iran In Middle East As Qods Force Expands In U.S. Backyard Thu Dec 03, 2020 17:02 | amarynth
South Front The United States and Israel are preparing for even more military action against Iran following the assassination of prominent nuclear scientist, Mohsen Fakhrizadeh, in the countryside of Tehran

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link David Quinn’s selective tolerance

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

offsite link Irish Examiner bias Anthony

Public Inquiry >>

No European Stability Mechanism Treaty by stealth - Irish electorate should decide

category national | eu | press release author Thursday September 22, 2011 23:21author by O.O'C - People's Movementauthor email info at selisboninfo dot comauthor address For further information, contact Kevin McCorryauthor phone 086 3150301 Report this post to the editors

Oireachtas members and MEP call for referendum

Twenty-six members of the Oireachtas and one MEP, have joined in an initiative with the People’s Movement (which campaigned against the Lisbon Treaty in the two referenda) to demand that the Irish electorate have the determining say by way of referendum on the proposals to establish a permanent eurozone fund by Treaty amendments that will be binding on Ireland.



A letter from the Oireachtas members and the MEP, who include members of various parties as well as Independents, says that the Treaty formally subordinates Ireland’s interests to those of the stability of the euro area as a whole yet there has been an almost total media blackout on the implications and consequences of the ESM for the country.

In a statement last night People’s Movement spokesperson, Kevin McCorry, said that the Government should come clean about the European Stability Mechanism Treaty that Finance Minister Noonan signed in July, a Treaty that commits the State to "irrevocably and unconditionally" contribute some €11 billion towards an Eurozone fund from 2013 onwards with the possibility of demands for further sums down the line.

The People’s Movement is also calling on Fianna Fáil to explain why it apparently supports the Government action in amending the EU Treaties by stealth.

It is reasonable, given the state of our economy, Mr McCorry said, for people to know the full details of the cost and implications to the country of borrowing to meet Ireland’s initial €1.27 billion payment and the remainder of the €11,145,400,000 which all concerned seem happy enough to commit us to pay. What guarantee can they give us that the country will get any benefit?

Also if the State were to receive ESM assistance there are no limits to the "strict conditionality" provisions that might be attached in light of the fact that the Treaty formally subordinates Ireland’s interests to those of "the stability of the euro area as a whole" It would mean a regime of unmitigated austerity for decades to come.

And for whose benefit? Certainly not the people of Ireland.

 

The full text of the letter is as follows:


"The Government in the coming months will seek to push through the Oireachtas an amendment to one of the two Treaties on which the EU is based authorising the establishment of a permanent Eurozone fund, the European Stability mechanism (ESM), and the ratification of the Treaty that actually establishes

the fund.

The Treaty which has already been signed but not yet ratified commits the Irish State to irrevocably and unconditionally contribute €11 billion in various forms of capital to the ESM when it is established in 2013 and possibly further sums after that at the behest of Eurozone Finance Ministers when contributions come up for regular review. This will have to be borrowed on the international market.

Weaker economies like Ireland would have to put up cash immediately to cover any short-fall of paid in capital that might arise while triple A rated economies like Germany and France would be put under less financial pressure by being able to fulfil their obligations by way of guarantees.

Assistance from the ESM will only be given on the basis of strict conditionality—these conditions being unspecified and potentially unlimited. If the Irish State were to receive loans or grants or favourable

borrowing facilities from the ESM, these conditions could require the introduction of a balanced budget constitutional amendment or dropping the objection to the harmonization of corporate taxes at EU level.

The Treaty formally subordinates Ireland’s interests to those of the stability of the euro area as a whole yet there has been an almost total media blackout on the implications and consequences of the ESM for the country.

The support of Fianna Fáil for the Government action has further contributed to the managed nature of the whole process. The ESM is part of a package of measures that can only lead to fiscal union in the EU, beginning with stricter controls on budgets and public spending starting with the so-called Euro Plus Pact and soon moving on to a harmonising of taxes.

We believe that the legislation to enable the State to license its establishment and ratify the Treaty setting it up should be put to the Irish people in a constitutional referendum and we urge the Government to let the people decide on this matter of crucial importance for the future of our country"

The signatories are:

Gerry Adams TD, Senator David Cullinane, Clare Daly TD, Dessie Ellis TD, Michael Colreavy TD, Seán Crowe TD, Pearse Doherty TD, Martin Ferris TD, Luke Ming Flanagan TD, Joe Higgins TD, Mary Lou McDonald TD, Finian McGrath TD, Mattie McGrath TD, Sandra McLellan TD, Pádraig Mac Lochlainn TD, Catherine Murphy TD, Paul Murphy MEP, Caoimhghin Ó Caoláin TD, Senator Trevor Ó Clochartaigh, Aengus Ó Snodaigh TD, Maureen O’Sullivan TD, Thomas Pringle TD, Senator Kathryn Reilly, Brian Stanley TD, Peadar Tóibín TD, Mick Wallace TD.

Related Link: http://peoples-movement-eire.blogspot.com/
© 2001-2020 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy