A 30 Minute Walk Through the Fiscal Stability Treaty and the ESM - via Namawinelake

[C. Flower]

A very useful scribd document by a non-aligned Namawinelake user.

http://namawinelake.files.wordpress.com/2012/05/esmfcanalysis.pdf

[C. Flower]

TAKING NOTE of the European Commission's intention to present further legislative proposals for the euro area concerning, in particular, ex ante reporting of debt issuance plans, economic partnership programmes detailing structural reforms for Member States under an excessive deficit procedure as
well as the coordination of major economic policy reform plans of Member States;

This stuff is similar to being in "The Programme" but would apply whether or not a state was receiving funding. Structural reforms refers to removal of workers rights to job security etc. Also, sell off of nationalised services and resources - very likely to outside interests - we have been there with telecom.
None of this is new, it is what has been required under IMF programmes for decades, and as Joseph Stiglitz (former IMF Chief Economist) has written, has wreaked havoc on economies all over the world.

"Co-ordination of reform plans" could of course mean reform of corporate taxation.


NOTING that compliance with the Contracting Parties' obligation to transpose the "balanced budget rule" into their national legal systems, through binding, permanent and preferably constitutional provisions, should be subject to the jurisdiction of the Court of Justice of the European Union, in accordance with Article 273 of the Treaty on the Functioning of the European Union;

This is a one way ticket.