Tag Archives: ESM

Der Spiegel – Up To Two Trillion Europe Plans To Leverage Euro-Zone Bailout Fund – 24 September 2012

Officially, the ESM permanent euro-zone bailout fund is worth 500 billion euros. That, though, might not be enough, which is why euro-zone governments are now planning to introduce levers that could mobilize up to 2trillion euros, SPIEGEL has learned. Finland, though, is skeptical of the idea.

With the launch of the permanent common-currency bailout fund, the European Stability Mechanism (ESM), just around the corner, euro-zone member states are looking into ways to leverage the €500 billion ($647 billion) available to the fund, SPIEGEL has learned. But with Finland still concerned about the leveraging plans, it is unlikely that they will be initially included when the ESM is launched on Oct. 8. Continue reading

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ZeroHedge – Tyler Durden – What Today’s Real ECB News Really Means – 24 August 2012

Bloomberg has run a story, citing two anonymous central bank officials, stating the ECB may not be ready to finalise its plan to buy government bonds at the September 6th meeting. JPMorgan’s European economists note that the story cites two reasons for this: (a) The Governing Council wish to wait until they have seen the German constitutional court ruling on September 12th before proceeding; and (b) The programme is still being worked on staff may not be able to finalize it by then. Critically, JPM, like us, regard (a) as something of a smokescreen. Continue reading

Mish/ Mike Shedlock – Finland, Netherlands Reject ESM Model; Finland Insists On Collateral For Loans To Spain – 3 July 2012

How long Finland and the Netherlands are willing to put up with not having a say in how the ESM (or anything else in the EMU runs) remains to be seen, but both countries expect collateral for any loans to Spain. Continue reading

Mish/ Mike Shedlock – German Vote On ESM Fails; Still Not Ratified By Germany, Austria, Belgium, Estonia, Slovakia, Netherlands; Political Football Over Financial Transaction Tax – 14 June 2012

The Wall Street Journal reports European Economics Commissioner Olli Rehn expressed concern Monday that Germany, Austria, Belgium, Estonia, Slovakia, and the Netherlands were dragging their feet in ratifying the ESM.

In the meantime, the Journal reports Spain May Tap EFSF.

The article states “Power broker Germany has yet to complete the process but is expected to do so soon.” Continue reading

Mish/ Mike Shedlock – An “Emperor Has No Clothes” Moment: ESM Has Failed Already – 12 June 2012

In what may become a historic “Emperor Has No Clothes” moment, the euro, stocks, oil, and European government bonds all quickly reversed course following initial euphoria of a Spanish bank bailout that is sure to do more harm than good.

For details of the bailout please see Rajoy Proclaims “Victory”, Says It’s Not a Bailout “It’s a Credit Line”; Existing Bondholders Subordinated Continue reading

Irish Vote On ESM 31 May 2012 – Yes Side On Track For Double-Digit Referendum Win ( And My Comment On It) – 28 May 2012

(Lucas:  “I do not know what to think about this message: The Irish of all would be voting yes to this monster of a treaty called ESM.  I  lost faith in the Irish if they vote yes on the referendum as they just believe then all the talk of the pro-ESM campaigners funded by the oh so trusted EU.  So they would vote for ignorance in saying yes. As the Dutch also voted for ignorance in saying yes to ratify the treaty.  People still are asleep. Still they remain inside the matrix doing the things the dark ones want them to do. We give them the power by voting for the ESM. The ESM  is not a treaty for just installing a permanent help fund. It is an institution that is set up that has more powers via fiscal and monetary policy making way then anything else. If  someone does not walk in line they will use their dictatorial powers given by the treaty without any accountability whatsoever and immunity for those working or in power of that institute. Their fiscal demands can be enforced by them via courts and via law enforcement.
Do vote yes if you go for ignorance and did not read the whole treaty and believed it was just a rescue fund. And vote NO if you are a sane Irish voter that says enough is enough to the EU and its consortium of banker terrorists. “)
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The New Pending EU/EUROZONE TREATY Gives Ultimate Power To A Few Without Accountability To Anyone – 28 December 2011

Lucas Comment:  The new Treaty worked out by the EU en EUROZONE states seems to be a small version of a New World Order : the ESM – European Stability Mechanism. This ESM ruled by governors have no accountability to anyone, no courts, no parliaments, no governments and can take money from the treaty member states even sue states for not giving the money requested. This seems to be an ultimate Illuminati trick to use the crisis to bind the EUROZONE and EU states into a rule by ESM that takes money and can use money as it sees fit. Therefore it can use the money for making policy or repress or even blackmail states or people who do not work with them or do what the money kings say. It seems to me this new pending treaty should be stopped by the people. No more tyranny of money rule and undemocratic treaties, laws, rulings. No more leaders or officials without any form of democratic accountability to the people.  No more enslavement via debt. This has to end now.

See also below the YouTube video that makes things very clear.

Update : the link to the full draft of the  treaty : link to draft of treaty