Setting up a Mafia bank

In order so that we don't have to, Ian Parker-Joseph has taken a close look at the Treaty establishing the EUnion Stability Mechanism (ESM), which goes into force in 2013.

As EUnion institutions go this one is a marvel of elitist, anti-democratic arrogance.
Set up a company, get all those friends who are in financial trouble to buy shares in your new venture by robbing their taxpayers of huge amounts to raise the paid up capital (details at the bottom), then get all the friendly governments to give this new company legal status, privileges normally reserved for diplomats along with full immunity for all and anything they do whilst working for the company, plan to employ a whole raft of new staff, appoint a Board of Directors and a Managing Director, invoke professional secrecy rules on them all, and get governments to grant immunity to the persons and exempt them from income tax (the company will tax its employees and keep it).

On top of that, ensure that your new company is exempt from all and any kind of registration, regulation, supervision, oversight or taxation and can operate OUTSIDE of all legal structures, AND gets to audit itself whilst leaving the EU Commission as the sole negotiator on loans made by your ‘company’.
Especially the immunity granted to the 'bank' and all those that work in it is very worrying indeed.
Total Immunity except in the case of a contract. But… you can’t search buildings or assets, can’t take any legal actions and all archives and documents are inviolable, its buildings and communications are given diplomatic immunity so you can’t touch them for anything. The property and funding is outside of the reach of anyone and they don’t need to be licensed or regulated in any way. It really is a legalised Mafia.
There is only one possible outcome, if this monster is actually given life: Poverty for all.
It may save a few faces, it may save a few banks, but the peoples of Europe will never forgive or forget this new form of economic slavery, a heinous crime, and the levels of totally un-repayable debt that is now being thrust upon them… by the unelected mafia that is the EU Commission.
Go on over and read the whole hair-at-the-beck-of-your-neck-rasing tale. No really, go and read it! We are moving into very dark territory here. And people (that means you too) need to start paying attention to this miserable garbage posing as just governance. This is your life, freedom and well-being we are discussing here, yours and mine.

(h/t WfW)

[Instant Update] And for those wondering: Yes, but how much is it going to cost? Ian PJ provides a nice overview who is expected to pay what:

Subscriptions to the authorised capital stock
ESM Member                             Number of shares         Capital subscription
Kingdom of Belgium                              243 397                    24 339 700 000
Federal Republic of Germany             1 900 248                  190 024 800 000
Republic of Estonia                                13 020                      1 302 000 000
Ireland                                                  111 454                    11 145 400 000
Hellenic Republic                                  197 169                    19 716 900 000
Kingdom of Spain                                 833 259                    83 325 900 000
French Republic                                 1 427 013                 142 701 300 000
Italian Republic                                  1 253 959                 125 395 900 000
Republic of Cyprus                                 13 734                     1 373 400 000
Grand Duchy of Luxembourg                  17 528                     1 752 800 000
Malta                                                       5 117                        511 700 000
Kingdom of the Netherlands               400 190                   40 019 000 000
Republic of Austria                               194 838                  19 483 800 000
Portuguese Republic                             175 644                  17 564 400 000
Republic of Slovenia                               29 932                    2 993 200 000
Slovak Republic                                      57 680                    5 768 000 000
Republic of Finland                               125 818                  12 581 800 000
Total                                                 7 000 000             700 000 000 000

FOURTY BILLION! Makes those 18 billion in budget cuts seem a bit helpless, doesn't it? Another 40 billion, BOOM headshot, added to our national deficit. It's good to know your tax money is so well spent, isn't it?

2 opmerkingen:

DP111 zei

You know they are up to no good when they set up an institution with rules designed to confuse, obfuscate and misguide.

Why are we locking up looters when the real thieves with their hands on loot in billions, are the un-elected mafia in the EU.

Klein Verzet zei

Ever since the aftermath of the UK lootings, I've come to the conclusion that the rot started from the head down. It must never be condoned, but the lower strata of society acting out is the harvest, sown by the callous, indifferent and arrogant social-democrats occupying seats of power ever since the mid-70's. The current times are an object lesson in consequences of abdicating leadership responsibility.