Category Archives: EFSF / European Financial Stability Fund

“A Federation for the Eurozone and a Confederation for the rest of the EU”


(Note: The following replaces & corrects earlier version of 7/May) TWO TREATIES FOR THE EUROZONE AND AN AMENDMENT TO  ONE OF THE EU TREATIES  – ALL RELATED TO EACH  OTHER! Reply to Dr Gavin Barrett, Senior Lecturer in European Law, … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fiscal Compact Treaty, France, Germany, ireland, Promissory Notes, Referendum | Tagged , , , | Leave a comment

Reply to Dr Gavin Barrett’s article on the Fiscal Treaty referendum in last Friday’s Irish Times


By Anthony Coughlan, Director, The National Platform EU Research and Information Centre “The Member States whose currency is the euro may establish a stability mechanism to be activated if indispensable to safeguard the stability of the euro area as a … Continue reading

Posted in Budget, ECB/IMF, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fiscal Compact Treaty, ireland, Permanent Austerity Treaty, Promissory Notes, Referendum | Tagged , , | Leave a comment

People’s Movement budget demonstration: European Parliament office, Molesworth Street Dublin, Tue. 6 Dec. 1 pm


People’s Movement budget demonstration Assemble at the European Parliament office (Molesworth Street) Dublin. Tuesday 6 December, 1 p.m.

Posted in Accountability, Action Stations, Austerity / Cutbacks, Budget, ECB/IMF, EFSF / European Financial Stability Fund, EU, Euro / Sovereign Money, Independence/Nationalism, ireland | Tagged , , | Leave a comment

UPDATE: “Deutschebank Uber Alles: Germany Imposes VAT Tithe On Ireland” (ExiledOnline.com)


Via ExiledOnline.com: Reuters – Exclusive; Ireland to raise VAT in December budget: Finance Minister Michael Noonan has said he will not reveal the exact measures until he presents the budget on December 6.However, according to a document presented to the … Continue reading

Posted in Accountability, Austerity / Cutbacks, Bankers' Bailout, Budget, ECB/IMF, EFSF / European Financial Stability Fund, eurozone, Geopolitics, Germany, Independence/Nationalism, ireland | Tagged , , , , , , , , , | Leave a comment

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 … Continue reading

Posted in Accountability, Budget, Civil Rights & Liberties, ECB/IMF, EFSF / European Financial Stability Fund, Elections, ESM / European Stability Mechanism, EU, Geopolitics, Germany, ireland | Tagged , , , , , , , | Leave a comment

Good Europeans: German Constitutional Court to be taken to European Court of Human Rights (People’s Movement)


The German Constitutional Court has announced that it will present its ruling on the challenge against the euro-zone bail-out on 7 September. Separately, the Europolis Group, made up of fifty-five German entrepreneurs, has announced that they will take the German … Continue reading

Posted in Accountability, Bankers' Bailout, Civil Rights & Liberties, ECB/IMF, EFSF / European Financial Stability Fund, EU, Euro / Sovereign Money, Germany | Tagged , , , | Leave a comment

CNBC: “Europe’s Debt Crisis Won’t End Until Greece Defaults”


From CNBC – Europe’s Debt Crisis Won’t End Until Greece Defaults: Allowing deeply indebted European countries the chance to restructure their obligations seems to be the most direct approach to resolving the problem, yet has been met with resistance that … Continue reading

Posted in Debt Default/Restructuring, EFSF / European Financial Stability Fund, EU, France, Greece, Italy, Spain | Tagged , , , , | Leave a comment

Leaked from Citigroup: Plutonomy, Part 2 (2006)


  Citigroup Equity Strategy Revisiting Plutonomy: The Rich Getting Richer March 5, 2006 Global ➤ The latest Survey of Consumer Finances, for 2004, has been released by the Federal Reserve. It shows the rich continue to account for a disproportionately … Continue reading

Posted in Austerity / Cutbacks, Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Ideology, Privatisation | Tagged , , | Leave a comment

Delors – “The Euro, like Europe, is on the brink”


EUobserver.com – Delors: EU is ‘on brink’ of collapse: Former EU commission head Delors has in an op-ed published in Belgian daily Le Soir and Swiss daily Le Temps said the euro and the EU are “on the brink” of … Continue reading

Posted in ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics | Tagged , , , , | Leave a comment

Impossible short-term choices illustrate flaw built into eurozone from beginning (People’s Movement)


The markets want the European Central Banks to start buying Spanish and Italian bonds, but for the buying to be effective the ECB would have to buy bonds on a massive scale. Given that the ECB already has an exposure … Continue reading

Posted in Austerity / Cutbacks, Bankers' Bailout, ECB/IMF, Economy, EFSF / European Financial Stability Fund, EU, Italy, Spain, Superstate | Tagged , , , , , , | Leave a comment

Leaked from Citigroup: Plutonomy, Part 1 (2005)


In the public interest, and for political discussion, we reproduce the following source material (Citigroup_Oct_16_2005_Plutonomy_Report_Part_1_PDF) referenced in the following articles: The Atlantic – Can the Middle Class Be Saved?; The Wall Street Journal Wealth Report – Plutonomics; Daily Kos – … Continue reading

Posted in Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Ideology, ireland, Taxation | Tagged , , | Leave a comment

ECB helps Italy and Spain? (People’s Movement)


The European Central Bank has gone back to the markets to buy bonds after a five-month pause in an attempt to stop the crisis from spilling to Italy and Spain. “If we intervene, we intervene, and we’ll publish the amount … Continue reading

Posted in Bankers' Bailout, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Germany, Greece, Italy, Spain | Tagged , , , , | Leave a comment

Germany owns Europe: during boom bankers went out way to get dirty, needed to go abroad to (Vanity Fair/Michael Lewis)


From Michael Lewis in Vanity Fair – It’s the Economy, Dummkopf! The Greeks not only have massive debts but are still running big deficits. Trapped by an artificially strong currency, they cannot turn these deficits into surpluses, even if they … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Germany, Greece, Housing Bubble, ireland, Superstate | Leave a comment

“In Italy we are seeing not just a run on a bank; this is a run on a country.” – David McWilliams


From David McWilliams – What happens if Germany says enough?: On the main road out of Milan to Lugano in Switzerland, the Italian police, under instruction from the Guardia di Finanza, were stopping everyone. They were searching all cars, trucks … Continue reading

Posted in Bank Run, Breaking News, Civil Disobedience, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Italy | Tagged , , , | Leave a comment

The ECB Job (2)


Telegraph – Financial crisis; Italy could tip euro into abyss: The relentless plunge of financial markets will lurch into a more dangerous phase that could take the global economy over the brink of disaster, unless the European Central Bank starts … Continue reading

Posted in Bankers' Bailout, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Greece, ireland, Italy | Tagged , , , , , , , , , , , | Leave a comment

“Ireland needs to leave” Eurozone – Prof. Kinsella, Smurfit Graduate School of Business


From Irish Central – Leading economist urges Ireland to quit the Eurozone ASAP; Kinsella claims lack of leadership will bankrupt Europe: “The economic forecasts on which Ireland’s budgetary policies – and the bailout – have been constructed have now been … Continue reading

Posted in Bankers' Bailout, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, eurozone, Geopolitics, Independence/Nationalism, ireland, Solutions | Tagged , , , , , | Leave a comment

Update: DEPFA: the €35 Billion German Debt Grenade at the heart of the Irish Balance Sheet


[Links to David Malone blog fixed] Thanks to sinsin @ Politics.ie: Depfa demise could have been Ireland’s biggest headache – Independent.ie IFSC German banks’ warning to Elderfield – Independent.ie Hypo Real Gets EU50 Billion Government-Led Bailout (Update3) – Bloomberg Central … Continue reading

Posted in Accountability, Bankers' Bailout, Budget, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Fraud, Geopolitics, Housing Bubble, Independence/Nationalism, ireland | Tagged | 1 Comment

Update: The Panic of 2011 (2)


Irish Left Review, Michael Burke / Socialist Economic Bulletin – Panic on world markets: European (including British) stations are reporting the Wall Street-led declines as a response to the continued debt crisis in Europe. But this makes no sense. An EU … Continue reading

Posted in Bank Run, Bankers' Bailout, Breaking News, Budget, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Greece, ireland, Italy, Spain, War & Peace | Tagged , , , , , , , , , , | Leave a comment

“situation is somewhat analogous to a bank run on sovereign bonds” – Fortune; bank-run in Italy?


From Fortune Magazine website – Thanks a lot, Europe: You know it’s bad when even the banks don’t want your money. So how did this all happen? The farcical debate on the debt ceiling temporarily distracted traders from the slow-motion … Continue reading

Posted in Bank Run, Breaking News, Debt Default/Restructuring, ECB/IMF, Economy, EFSF / European Financial Stability Fund, ESM / European Stability Mechanism, EU, Euro / Sovereign Money, Geopolitics, Italy | Tagged , , , , , | Leave a comment