With the government’s request to the ESM for new funding, Greece is tossed in the waste disposal.
Under circumstances of a quasi-world crash of financial markets, the government submitted to the European Stability Mechanism for re-financing. Requesting a new debt for the old. With this application, the country most directly subordinate to the permanent mechanism for controlled bankruptcy and dissolution.
The ESM is not something simple. It is a controlled bankruptcy institution based in Luxembourg for the eurozone countries that are unable to cope with their debts. The Treaty on the ESM is but one debt treaty to protect the euro. The board and the CEO have ultimate authority over the Member States must comply “unconditionally and irrevocably” as defined in the verbatim Treaty establishing the ESM. In essence it is about the set up of an uncontrolled organization based in Luxembourg that is not subject to any control and no authority, legal or other form.
Let’s see what is foreseen under the Establishing Treaty on the ESM. Succinctly with Article 32 par. 2 of the Treaty: “The ESM has full legal personality and has full legal capacity:
a) to acquire and dispose of movable and immovable property,
b) to contract,
c) to institute legal proceedings and
d) to conclude an agreement and / or protocols for the seat as necessary, to ensure the recognition and enforcement of the legal status and privileges and immunities. ”
The par. 3 of the same article states: “The ESM, real estate, its resources and its assets, regardless of location and owner, shall be immune from any form of legal proceedings, unless the ESM expressly waive its immunity for the purposes of any procedure, under the terms of any contract, including documentation of financial instruments.”
The par. 4 of the same article states: “The property, funds and assets of the ESM, regardless of location and holder, be immune from search, requisition, confiscation, expropriation or any other form of seizure, removal or detention under executive , judicial, administrative or legislative measures. ”
The par. 5 and 6 of the same article states: “The archives of the ESM and all documents belonging to the ESM or held to be inviolable. The premises of the ESM’s facilities shall be inviolable.”
While par. 8 and 9 of the same article states: “To the extent necessary for the performance of activities provided for in this Treaty, all property, funds and assets of the ESM shall not be subject to any restriction, regulation , control and moratoria of any nature. The ESM is exempted from any authorization or licensing obligation as a credit institution, investment services provider or other official licensed or regulated entity under the laws of each member of the ESM. ”
In fact Article 32 par. 8 of the Treaty establishing the ESM out: “To the extent necessary for the performance of activities provided for in this Treaty, all property, funds and assets of the ESM shall not be subject to any restrictions, regulation, control and moratoria of any nature. ”
In other words, the loans and the guarantees will be distracted by the ESM from the Member State which is under the tutelage of “not subject to any restriction, regulation, control and moratoria of any nature.” And so the debtor Member State is bound to suffer that decided in absentia without even the right to negotiate in order to supposedly achieve any restrictions, regulations, controls and moratoria in how the lending by the ESM will take place.
What happens when the ESM shall authorize the opening of a new financing program for Greece? Then drawn up “with the member of ESM memorandum of understanding (” MK “) describing in detail the conditions to be attached to facilitate financial assistance. The content of the MK reflects the weaknesses to be addressed and the financial assistance instrument chosen. “(Article 13, par. 3) Therefore any new funding must be accompanied by a” Memorandum of Understanding “, such as those imposed on us until today.
The new is that the “MK [Memorandum of Understanding] is fully consistent with the provisions for coordination of economic policies provided for in the TFEU [Operation Treaty on European Union], especially any acts of European Union law, including any opinion, warning, recommendation or a decision addressed to the ESM Member concerned. “(in the same article) that this time the Memorandum is a bilateral agreement with the state in funding, such as Greece, the result of a specific loan agreement. It falls to the TFEU and EU law.
What does this mean; It means that the application of the Memorandum is not something separate from our country’s participation in the “European integration” and therefore compliance with the memorandum, included in Article 28 of the Constitution “provides for restrictions on the exercise of national sovereignty,” to facilitate “participation of the Country in European integration,” as expressly mentioned in the explanatory statement of this article.
That is why the ‘European Commission signs the MK on behalf of the ESM “(par. 4), and also the’ European Commission – in cooperation with the ECB and wherever possible, together with the IMF – made responsible for monitoring the compliance with the conditions attached to the financial assistance facility. “(para. 5).
In other words the Member State that borrows directly from the ESM loses not only its national sovereignty, but its very state of existence. The government must “unconditionally and irrevocably” follow exactly what the European Commission and the Governing Board of the ESM decides. In other words, with our accession to the ESM, as the country Greece we are finished. We are converted into a plot in a liquidation mechanism. And all this with the left in government.
Posted by Dimitris Kazakis at 12:29 am
Translated by Kosmas Loumakis
Posted on July 9, 2015, in Articles in English, Hot and tagged Current Events, democracy, Dimitris Kazakis, ESM, EU, EURO, Greece, Human Rights, IMF, imperialism, Δ.Καζάκης, Leadership, memorandum, politics, Society. Bookmark the permalink. Leave a comment.