ESM ratification in Holland

The Dutch Christian Democrats Union (thanks anon., for the correction) are now joining Geert Wilders Freedom Party in trying to block the ratification of the ESM Treaty in the Netherlands. The following is an extract from the Dutch Press Review of today from Radio Netherlands Worldwide:

Christian Union joins Wilders to block EU fiscal pact
The Christian Union has searched its conscience and turned to the Socialist Party and Geert Wilders’ Freedom Party (PVV) on the question of the European Stability Mechanism (ESM), writes de Volkskrant.

While the other four parties involved in the Spring Accord – the minority caretaker government’s latest austerity package negotiated with the opposition to balance its books – the Christian Union “cannot approve this treaty,” says party leader Arie Slob. If parliament ratifies it, then we lose control of 40 billion euros, he exclaims.

“Those 40 billion euros amount to our total education budget and what we spend on safety.” Slob says if countries need to make use of the fund to pay off countries in distress, then there should be a vote each time. “Without this consent, the accord lacks democracy.”

And as the eurozone begins to appear less like a trading and fiscal union than a self-help group for debt addicts, the chance is considerable that a country which has run adrift will be begging for some ESM fix at some point.

“PVV leader Geert Wilders is seeking an injunction against the state to block parliament’s ratification of the ESM this week,” continues de Volkskrant. Wilders sees the permanent bailout fund which is part of an EU fiscal pact to reinforce economic surveillance as “an unlawful action”. The Netherlands might need to join the debt group itself. Since 2008, the country has degenerated from a leading economy to “a trouble child”, writes de Volkskrant in its economy section, citing a Standard & Poor’s report.