European Stability Mechanism (ESM)

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 that, the Parliaments and Senats of the 17 euro-countries still have to vote  wether they accept this dangerous treaty or not. These procedures for the ratification have already started! We have to act very urgently and efficiently!

Short video 3'51''  http://www.youtube.com/watch?v=rxMOW94V6xQ

English text of the treaty: http://www.european-council.europa.eu/media/582311/05-tesm2.en12.pdf
(If unavailable, here a copy )

The ESM in very short
The ESM has the appearance of an emergency fund. It is a permanent fund, replacing the EFSF and EFSM established in 2010. With a starting capital of 700 billion euros, it can decide itself to increase this capital indefinitely and claim the payments by the national Treasuries whenever it wants. To give you an idea what 700 billion represents, that is for each country a contribution that comes close to the amount of the income taxes for one year. Long live the budget cuts! Long live austerity! The ESM disposes of this money as it likes, without the least democratic influence, without any control, without having to account to anyone. A real dictatorship!
Its official purpose is to help countries with financial difficulties. In fact, it loads ever more debts on indebted countries. Its loans come with conditions that put the countries under guardianship, replacing democratically chosen leaders by bankers. With imposed budget cuts, the ESM acts as a demolisher, that deliberately causes severe economic crises and massive unemployment. That goes for the countries that contribute financially, as well as the countries that accept to borrow from the ESM. It is the Choc Doctrine as described by Naomi Klein.
Politicians, like the Dutch Rutte and de Jager, like to make believe that it’s the countries own fault if they are indebted. They would employ too many officials, they would have taken bad decisions, they would be lazy-bones or they would have lied about the debts they had. Note that none of these countries had major problems when they entered the eurozone. He would not have been accepted. In fact, the cause of their indebtment is the euro! Read the explanation in the letter here below.

To stop the ESM, all Europeans have an interest that this treaty gets the least possible ratifications.
Sign the letter here below to all parliamentarians who still have to decide about it!

Repartition of shares

The euro-countries contribute relatively to the number of their shares in the total capital.
It means, for instance, that for the start of 700 billion euros, the Dutch will have to pay 40 billions. Compare that to the amount of Dutch income taxes of 2011: 45 billion euros. And the ESM can increase the amount indefinitely!!!
The Board of Governors of the ESM is composed of Governors, who are the Ministers of Finance of each country. Their voting rights are relative to the number of shares of their country.
It would be an error to think, that this gives some relative power to each country. When the Minister of Finance acts as Governor of the ESM, he cannot be called to account by the national Parliament nor by anyone else. As Governor he acts under an international treaty, which has always priority over national laws. The only thing the national parliament can do is send him home. Would he mind? I am sure the following day he can earn three times as much in one of the companies that benefited from the billions of the ESM.

http://www.courtfool.info/en_EUROPEAN_ACTION_AGAINST_ESM.htm#letter