ESM: The shocking truth of the pending EU collapse!

[Ovicula]

The European Stability Mechanism (ESM) is a permanent rescue funding programme to succeed the temporary European Financial Stability Facility and European Financial Stabilisation Mechanism in the 17-member Eurozone. The ESM is due to be launched as soon as Member States representing 90% of the capital commitments have ratified it, which is expected in July 2012.

http://en.wikipedia.org/wiki/Europea...lity_Mechanism

The "EUSSR" has unelected bureaucrats and absolute and totalitarian control over it's citizens. They reserves the right to take from us as much money as they please, first of all from us Germans. The so-called crisis is nothing but a carte blanche for robbing and looting the national wealth.

The EUSSR can have all my small savings, but not before the Rapture!

[Gideon]

Sounds like a European version of the Federal Reserve but worse.

[$teve]

I sympathise for the situation going on over there, if I may use that term. It's clearly a messy situation. Germany has proposed Greece relinquish control of its budget, Greece has since declined, politely of course.

The proposal is rather interesting. From Reuters....

Germany wants Greece to give up budget control

Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday.

"There are internal discussions within the Euro group and proposals, one of which comes from Germany, on how to constructively treat country aid programs that are continuously off track, whether this can simply be ignored or whether we say that's enough," the source said.

The source added that under the proposals European institutions already operating in Greece should be given "certain decision-making powers" over fiscal policy.

"This could be carried out even more stringently through external expertise," the source said.

The Financial Times said it had obtained a copy of the proposal showing Germany wants a new euro zone "budget commissioner" to have the power to veto budget decisions taken by the Greek government if they are not in line with targets set by international lenders.

"Given the disappointing compliance so far, Greece has to accept shifting budgetary sovereignty to the European level for a certain period of time," the document said.

Under the German plan, Athens would only be allowed to carry out normal state spending after servicing its debt, the FT said.

"If a future (bail-out) tranche is not disbursed, Greece cannot threaten its lenders with a default, but will instead have to accept further cuts in primary expenditures as the only possible consequence of any non-disbursement," the FT quoted the document as saying.

The German demands for greater control over Greek budget policy come amid intense talks to finalize a second 130 billion-euro rescue package for Greece, which has repeatedly failed to meet the fiscal targets set out for it by its international lenders.

http://www.reuters.com/article/2012/...r&dlvrit=56943

[EuroJoe]

fine someone translated it.

we all know what that is, right ?

it starts in July 1.

that whole Greece thing was a show to install this.

bring it on. woohoo..

[SumSam]

Gradual and inexorable loss of national sovereignty, that's the story of the EU since its inception all those years ago. It's as if the powers that be set up Greece to over borrow and overspend, then to fail. Now they will use Greece as a test run for a greater power grab from national governments.

Look out next, for European states to close down their national embassies in other continents and abdicate foreign policy to the EU.

[RapturiteSean]

I have instructed my government to leave the Eurozone this year or next. During the good days I got enough from the Eurozone to renovate, upgrade and enlarge my palaces. I do not need them anymore. My people may go hungry for a while but at least the Irish will not be obese, myself excluded.

[Ovicula]

Look out next, for European states to close down their national embassies in other continents and abdicate foreign policy to the EU.

Something near it is already existing, it is called European External Action Service (EEAS or EAS).

It is a European Union (EU) department that was established following the entry into force of the Treaty of Lisbon on 1 December 2009. It was formally launched on 1 December 2010 and serves as a foreign ministry and diplomatic corps for the EU.

The former Commission's representations abroad fall under the EEAS as EU embassies (although representing the whole of the EU under Lisbon, the Commission had wanted to retain management).

On 1 January 2010 all former European Commission delegations were renamed European Union delegations and were gradually upgraded into embassy-type missions that employ greater powers than the regular delegations. These upgraded delegations have taken on the role previously carried out by the national embassies of the member state holding the rotating Presidency of the Council of the European Union and merged with the independent Council delegations around the world. Through this the EU delegations take on the role of co-ordinating national embassies and speaking for the EU as a whole, not just the Commission.

http://en.wikipedia.org/wiki/Europea...Action_Service