Friday, September 23, 2011

Demand for Irish Referendum on ESM Treaty

A report in the Irish Times, on the move by independent parliamentarians in Ireland, is linked here. A quote:

A letter, signed by Sinn Féin, Independents and Socialist Party representatives and co-sponsored by the People's Movement group says the treaty that establishes the European Stability Mechanism (ESM) will subordinate Ireland's interests in Europe to those of "the stability of the euro area as a whole".
People's Movement spokesperson Kevin McCorry, said the Treaty commits the State to "irrevocably and unconditionally contribute some €11 billion towards an Eurozone fund from 2013 onwards with the possibility of demands for further sums down the line."
The letter says assistance from the ESM will only be given to countries on the basis of "unspecified" and "potentially unlimited" conditions.

The terms of the unratified ESM Treaty are linked from an earlier post on this blog, linked here, while some extra remarks are here.

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