Vote on European Financial Stability Fund (EFSF) in the offing – People’s Movement


Will we approve the ESM without a referendum?

Ollie Rehn has said that he expects euro-zone countries to quickly agree—by September at the latest—to widen the scope of the European Financial Stability Fund that was agreed at a summit meeting on 21 July; but German legislators have warned that this is over-ambitious.

“The parliamentary procedures are different everywhere,” Rehn said. “In some countries a ratification is required but in others it’s not. But we’ve got to quickly enact the measures agreed at the July 21st summit—at the latest in September—to put an end to the uncertainties.”

The Dáil returns on 14 September and will most probably seek approval for changes in the EFSF. They may also move to approve the European Stability Mechanism, which involves Ireland shouldering a further €11 billion in loans.

The argument for a referendum may be read in the People’s Movement pamphlet on the issue, available in PDF format at www.people.ie.

But the president of the German parliament, Norbert Lammert, poured cold water on the government’s plan to have a vote on the EFSF in parliament on 23 September. Lammert, a leader among Angela Merkel’s Christian Democrats, spoke out against the government’s efforts to rush the measure through the Bundestag.

People’s Movement · 25 Shanowen Crescent · Dublin 9 · www.people.ie · 087 2308330 · post (at) people (dot) ie
The People’s Movement has launched a new pamphlet entitled The European Stability Mechanism and the case for an Irish Referendum.
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This entry was posted in Accountability, Budget, Civil Rights & Liberties, ECB/IMF, EFSF / European Financial Stability Fund, Elections, ESM / European Stability Mechanism, EU, Geopolitics, Germany, ireland and tagged , , , , , , , . Bookmark the permalink.

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