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The Treaty establishing the European Stability Mechanism (ESM) has been signed 2 February 2012 and Brussels wants it to be in force 1 July 2012. However, before, the Parliaments and Senats of the 17 euro-countries still have to agree with the ratification of this dangerous treaty. These procedures have already started!
The ESM in very short
The ESM has the apparence of an emergency fund. It is a permanent fund, replacing the EFSF and EFSM established in 2010. It starts with a capital of 700 billion euros (in shares, see at the bottom af this page), and it can decide autonomously about when they call for the money and also they can decide to increase their capital illimitedly at the expense of the European tax-payers. The ESM dictates. It is our new dictator! The ESM acts without any democratic oversight, it enjoys complete immunity and decides autonomously about the loans it supplies and the money it spends.
Its official purpose is to help countries that have financial difficulties. In fact, what it does, is loading more debts on indebted countries. The loans of these emergency funds come with conditions that put the country under guardianship, replacing democratically chosen leaders by bankers, limiting the power of parliaments, forcing public adminstrations to shrink and imposing austerity measures that deliberately cause a severe economic crisis and massive unemployment. It is the Shock Doctrine as decribed by Naomi Klein.
The ESM is the new European dictator. Whenever it wants, and as often as it wants, it can simply request the euro countries to pay billions of euros within 7 days. They can ruin any government within a week!!!
English text of the treaty: http://www.european-council.europa.eu/media/582311/05-tesm2.en12.pdf
(If unavailable, here a copy )
Please visite courtfool.info for all the current information about this action against ESM
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So good to stay informed, thanks for this post! Blessings!