The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason
On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan
What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith
The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith
Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh
Spirit of Contradiction >>
Interested in maladministration. Estd. 2005
Elaine Byrne: Lacking moral courage to name names
Real democracies and referendums Anthony
Public Services Card: Some still forced to comply Anthony
Catholic Church: Dark influence still active Anthony
Tom Parlon launches new career in comedy Anthony
Public Inquiry >>
A bird's eye view of the vineyard
Moveable Feast Cafe 2020/03/30 ? Open Thread Mon Mar 30, 2020 05:00 | Herb Swanson
2020/03/30 04:00:01Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of
Covid-19 Derangement Syndrome: A World Gone Mad Mon Mar 30, 2020 01:34 | The Saker
Note by the Saker: today I am posting an article written by a good and trusted friend of mine. That does *not* mean that I agree with the logic of
LDNR State Building- An interview with Donetsk based journalist Christelle Néant Mon Mar 30, 2020 00:49 | amarynth
By GH Eliason for The Saker Blog Recently, I had a chance to meet one of my favorite journalists in Donetsk People?s Republic (DNR), Christelle Neant. Of all the English
Pedro Aznar asks a CRUCIAL question Mon Mar 30, 2020 00:43 | The Saker
Dear friends, Pedro Aznar is probably my favorite living Argentinian composer, musician and vocalist. I recently came across this short message which he posted on the Internet and I asked
Elections SITREP: Why Trump Will Probably Win Re-Election Mon Mar 30, 2020 00:10 | The Saker
by Eric Zuesse for The Saker Blog Throughout this election-season in the United States, there have been many indications that the stupid voters who chose Hillary Clinton over Bernie Sanders
The Saker >>
We need to postpone ratifying the ESM Treaty until After the the Fiscal Treaty referendum
Tuesday March 06, 2012 19:41 by O.O'C. - National Platform EU Research & Information Centre janthonycoughlan at gmail dot com 24 Crawford Avenue, Dublin 9 01-8305792
The relation between two different treaties we are asked to ratify, which people Need to understand
The Government's announcement of a referendum on the so-called "Fiscal Compact Treaty" (properly titled the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union/TSCG) calls in question its original intention to introduce the quite different European Stability Mechanism Treaty (ESM) to the Dáil for approval of its ratification on Tuesday or Wednesday next, or else sometime in the present pre-Easter Dáil term, as the Taoiseach recently announced.
The ESM Treaty would set up a permanent Eurozone bailout fund of at least €500 billion form this July - an economic firewall against sovereign debt "contagion" spreading to Spain and Italy. It has to be ratified by all 17 Eurozone States by their appropriate constitutional procedures. The ESM Treaty would commit Ireland to contributing €11 billion to the permanent Eurozone fund - so much money up front and so much in guarantees called "callable" capital later if required. There is already talk of boosting this fund by another few hundred billion once it is established, to which Ireland would naturally have to make a contribution also.
The Preamble to the ESM Treaty, which can be easily downloaded from the Internet, states (Recital 5): "It is acknowledged and agreed that the granting of financial assistance in the framework of the new programmes under the ESM will be conditional, as of March 2013, on the ratification of the TSCG [that is, the "Fiscal Treaty"] by the ESM Member concerned..."
This means that if the ESM Treaty, is ratified by Ireland sometime this month - we will be committing ourselves to contributing €11 billion to a fund from which we can receive no benefit or advantage whatever if voters should vote No to the Fiscal Treaty referendum that will presumably be held sometime in May or early June, although the Fiscal Treaty need not be ratified until the end of this year. The ESM Treaty was signed on2 February, the Fiscal Treaty/TSCG was signed on Friday last.
Would the Government not be acting in a very foolish fashion to lay the country open to such a possibility?
Would not the Irish State appear to be acting really bizarrely in the eyes of international public opinion if the ratification of these two quite different treaties was put the wrong way round in this way - very much against the Irish People's interests?
Or has the Government in mind to introduce and ratify the ESM Treaty during March, as the Taoiseach said,
* thereby binding the State to contribute €11 billion plus to this permanent Eurozone Fund,
* and then use that as a moral bludgeon with which to browbeat a bamboozled electorate into voting Yes to the "Fiscal Treaty" - on the ground that if they should vote No to it, they will be depriving themselves of possible access to the permanent Eurozone fund at some time in the future?
Could our leaders really be so cynical?
Surely it becomes imperative in these circumstances that the Government should postpone ratification of the ESM Treaty until after the referendum on the Fiscal Treaty has been held?
The 17 Eurozone Prime Ministers and Presidents have agreed that they would try to bring the ESM Treaty into force by July. The original intention with this treaty's predecessor, ESM Treaty No.1, which Michael Noonan and the other Eurozone Finance Ministers signed last year, in July 2011, had been to bring the permanent ESM fund into being in 2013, although ESM Treaty No.1 was never sent around for ratification. The date of next July would still give Ireland plenty of time in which to hold its "Fiscal Treaty" referendum in May or early June and thereafter ratify the ESM Treaty (No.2) to come into force by July if the people should vote for it.
Anthony Coughlan (Director)