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Thread: "Enda Kenny Completely Incorrect on Access to ESM" - Murphy

  1. #1
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    Default "Enda Kenny Completely Incorrect on Access to ESM" - Murphy

    http://www.breakingnews.ie/ireland/m...ct-553163.html

    Paul Murphy of the ULA pointed out today that Enda Kenny is completely incorrect in saying there is guaranteed access to the ESM.

    Access can be vetoed by any Treaty signatory at any time.

    Plainly, this could be used to coerce a country into acting against its own interests, for competitive reasons.

    In any event, the ESM is a completely uncertain entity, that may never function as envisaged by Kenny. The availability of funds, the interest rates and terms and conditions of loans are unknown.

    Yet access to the ESM is being put out as the main reason for a Yes vote - the Fiscal Treaty itself having nothing positive to offer.

  2. #2
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    Default Re: "Enda Kenny Completely Incorrect on Access to ESM" - Murphy

    The only guarantee that is given with the ESM is that we will be given access to a loan application form. The same can be said of the IMF.

    It is also worth pointing out that any application submitted will be examined on the criteria that the loan is needed to safeguard the stability of the euro area. Anybody who believes that loans will be processed and distributed on the needs of the Irish People, are, to say the least deluded.

    The ESM is a Bankers charter.

    "The Member States whose currency is the euro may establish a stability
    mechanism to be activated if indispensable to safeguard the stability of the euro area as a
    whole. The granting of any required financial assistance under the mechanism will be made
    subject to strict conditionality".
    http://www.european-council.europa.e...tesm2.en12.pdf
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  3. #3
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    Default Re: "Enda Kenny Completely Incorrect on Access to ESM" - Murphy

    Quote Originally Posted by ang View Post
    The only guarantee that is given with the ESM is that we will be given access to a loan application form. The same can be said of the IMF.

    It is also worth pointing out that any application submitted will be examined on the criteria that the loan is needed to safeguard the stability of the euro area. Anybody who believes that loans will be processed and distributed on the needs of the Irish People, are, to say the least deluded.

    The ESM is a Bankers charter.



    http://www.european-council.europa.e...tesm2.en12.pdf
    Lending money is a profitable business. The ESM would charge interest and so transfer more cash out of control of peripheral states and to the centre.

  4. #4
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    Default Re: "Enda Kenny Completely Incorrect on Access to ESM" - Murphy

    The ESM will have the Irish people (including future generations) as collateral.
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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