Europe Starts $648 Billion Aid Fund, Rules Out Immediate Use

Published on Bloomberg, by James G. Neuger and Stephanie Bodoni, Oct. 8, 2012 – European governments set up a full- time 500 billion-euro ($648 billion) fund to aid debt-swamped countries and, not for the first time in the three-year crisis, expressed confidence that the extra financial muscle won’t be needed anytime soon. Finance ministers from the 17 euro countries declared the European Stability Mechanism ESM operational, while saying that Spain, its biggest potential near-term customer, isn’t on the verge of tapping it. Decisions were also put off on Greece’s next aid payment and on an assistance program for Cyprus … (Linked with today’s Fiskalpakt, ESM, Abschaffung der Demokratie).

  • Video: ESM – The New European Dictator, 3.51 min, on YouTube (spoken in german, subtitled in english), uploaded by chich234, Oct. 23, 2011: On 11 July 2011 a new European treaty has been signed. You probably haven’t heard of it. It has not been in the news. Incredible, but true!  
  • TREATY ESTABLISHING THE EUROPEAN STABILITY MECHANISM ESM, 62 pdf-pages *.
  • Do not confuse it with the European Financial Stability Mechanim EFSM or the European Financial Stability Facility EFSF, which is the 440 billion emergency funds that has been in the news a lot.
  • My comment: yes, this is naked dictatorship, yes, EUgovs signed this, knowing fully the consequences. Ok, guys, now the only way to go out of this mess will be real, total revolution. A revolution becoming possible only when the unconscious dump silent majority, accepting no own responsibility is so totally oppressed, that even they are ready to stop dictatorship – ready to leave the unconfortable known for the feared unknown.

* (full titel: TREATY ESTABLISHING THE EUROPEAN STABILITY MECHANISM BETWEEN THE KINGDOM OF BELGIUM, THE FEDERAL REPUBLIC OF GERMANY, THE REPUBLIC OF ESTONIA, IRELAND, THE HELLENIC REPUBLIC, THE KINGDOM OF SPAIN, THE FRENCH REPUBLIC, THE ITALIAN REPUBLIC, THE REPUBLIC OF CYPRUS, THE GRAND DUCHY OF LUXEMBOURG, MALTA, THE KINGDOM OF THE NETHERLANDS, THE REPUBLIC OF AUSTRIA, THE PORTUGUESE REPUBLIC, THE REPUBLIC OF SLOVENIA, THE SLOVAK REPUBLIC AND THE REPUBLIC OF FINLAND).

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