UPDATE: The “Fiscal Compact” Treaty & Irish Referendum: Pay No Attention to that Article 136 Behind the Curtain!


  • Treaty text is here. Initial and subsequent drafts here and here and here. BBC Q&A here. Peoples’ MovementCommentary on the EU Permanent Austerity Treaty (Fiscal Compact Treaty);
  • NationalPlatform.orgWe need to postpone ratifying the ESM Treaty until After the the Fiscal Treaty referendum: … if the ESM Treaty, is ratified by Ireland sometime this month – we will be committing ourselves to contributing €11 billion to a fund from which we can receive no benefit or advantage whatever if voters should vote No to the Fiscal Treaty referendum that will presumably be held sometime in May or early June, although the Fiscal Treaty need not be ratified until the end of this year.
  • National Platform EU Research & Information Centre Two Steps to a Fiscal Union for the Eurozone… & A Third Step to Distract Attention from the First Two
    1. The  27-Member European Council “Decision” to make the Art.136 TFEU Amendment to the EU Treaties;
    2. The European Stability Mechanism (ESM) between the 17 Eurozone States;
    3. A Third Step that has distracted attention in Ireland from the First Two…
      The “Fiscal Compact Treaty” (Treaty on Stability, Coordination & Governance in the Economic & Monetary Union)
  • National Platform EU Research & Information Centre“We Are Treated Like Mushrooms – Kept in the Dark and Fed Shit!”: Did you know…?
    1. Ireland could hold the Eurozone at our mercy regarding our national debt, the Anglo-Irish promissory notes and the terms of the Troika’s Memorandum of Understanding? This can be done by requiring a referendum instead of Oireachtas approval of the “Decision” of the EU 27 to amend Art.136 of the EU Treaties [this is not the referendum on the Fiscal Compact Treaty – “Pay no attention to that man behind the curtain!”] so as to authorize the establishment of a permanent €500 billion fund for the Eurozone, the “European Stability Mechanism Fund”, to which Ireland must contribute €11 billion?
    2. … approval of this “Decision” [Art.136] is the only thing on which Ireland has the power of veto?
    3. the Government has invited submissions from the public on this Fiscal Compact Treaty… This will distract attention from the Government’s failure to insist that the amendment it has agreed to make to Art.136 of the EU treaties requires a referendum in Ireland because it makes a radical change to the scope, objectives and character of the Economic and Monetary Union which the Irish people agreed to sign up to under the Maastricht and Lisbon Treaties?
    4. … a motion to approve the “Decision” of the European Council to amend Art.136 of the EU Treaties
      +
      A motion to approve ratification of the European Stability Mechanism Treaty
      +
      A European Communities Amendment Bill to bring the provisions of the latter into Irish domestic law,
      will all be put before the Oireachtas probably on Tuesday or Wednesday week?
    5. … by holding a referendum in Ireland on the Art.136 amendment to the EU treaties – without which the €500 billion ESM fund cannot be established – we could not only insist on our sovereign debt situation being transformed, but that a better solution to the whole Eurozone economic crisis could be adopted?
  • Peoples’ MovementThe EU Permanent Austerity Treaty (Fiscal Compact Treaty): The Government seems determined to push ahead in the next few months with the ratification of two important treaties: the “Treaty on Stability, Coordination and Governance in the Economic and Monetary Union” [AKA Fiscal Compact Treaty] and the revised “Treaty on the European Stability Mechanism” (ESM).The two treaties would make member-states of the euro zone into regimes of economic austerity, involving deeper and deeper cuts in public expenditure, increases in indirect taxes, reductions in wages, a sustained liberalisation of markets, and the privatisation of public property.It would really be more accurate to call the first treaty the EU Permanent Austerity Treaty and the second the Conditional Support Treaty. Whatever they are called, the two treaties represent a seriously dangerous threat, and democrats should be mobilising to resist them.The cumulative effect of being bound by both treaties would be an obligation to insert a balanced-budget rule“through provisions of binding force and permanent character, preferably constitutional or otherwise guaranteed to be fully respected and adhered to throughout the national budgetary processes.”It would put Irish budgets under permanent and detailed supervision by the euro zone; make the existing subordination of Ireland’s interests to those of the “stability of the euro area as a whole” even more systematic and pronounced; impose conditions of “strict conditionality,” without limit, for ESM “solidarity” financial bail-outs; and require Ireland to contribute some €11 billion to the ESM fund when it is established later this year.
  • Peoples’ MovementCommentary on the EU Permanent Austerity Treaty (Fiscal Compact Treaty): the EU Permanent Austerity Treaty will make a permanent feature of that external interference in our economic governance that was so obnoxious when Fianna Fáil surrendered sovereignty to the European Central Bank and the International Monetary Fund. But if it’s bad in the short term—and it is—it’s even worse when it’s made permanent.The fact that the British and Czech governments are not going to ratify the treaty is clear evidence that an EU member-state can stay outside it and still remain within the European Union…
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This entry was posted in Austerity / Cutbacks, ECB/IMF, Economy, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fiscal Compact Treaty, Independence/Nationalism, ireland, Referendum and tagged , , , . Bookmark the permalink.

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