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People's Movment: Ireland has better options
national | eu | press release Wednesday April 25, 2012 18:07 by O.O'C. - People's Movement 086 3150301
The South East Region of People's Movement, which is a non party political organisation will be campaigning for a No vote in the referendum on 31st May next.
The grandly titled "Treaty on Stability, Coordination and Governance in the Economic and Monetary Union" is supposedly about "stability" in the Eurozone. Yet the treaty warns us that money from the new permanent European Stability Mechanism bailout fund will only be given to States that have ratified it.
The Economic and Monetary Union which Ireland signed up to under the 1992 Maastricht and 2009 Lisbon Treaties assumed that the 3% and 60% of GDP deficit rules for every Eurozone State would be abided by and enforced by means of the sanctions - warnings, special deposits, fines etc. - which are set out in those treaties.
Most economists regard a permanent balanced budget rule as absurdly inflexible. Governments need to run deficits on occasion to stimulate their economies and expand economic demand when that slumps heavily in their domestic or foreign markets.
In considering the possible implications of all this it is worth bearing in mind that in 2014, just two years time, under the Lisbon Treaty Germany's vote in making EU laws will double from its present 8% of total Council votes to 16%, while France's and Italy's vote will go from their present 8% each to 12% each, and Ireland's vote will halve to 1 %.This would be the context in which we had surrendered much of the stuff of national decision making and normal party politics from the arena of democratic consideration and debate.
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