No political input if you don't meet the economic rules?

digme

I was reading today a piece which stated

Trichet calls for tougher euro rules

By Ralph Atkins and Lionel Barber in London
Published: September 9 2010 18:00 | Last updated: September 9 2010 18:00

Eurozone members that break the region's rules on public finances should be excluded temporarily from Europe’s political decision-making, the president of the European Central Bank has proposed.
The controversial suggestion by Jean-Claude Trichet, in an interview with the Financial Times, would be part of a “quantum leap” in the governance of Europe’s 11-year old monetary union, needed to prevent a future Greece-style economic crisis.








So we go join the eu then we take out loads of loans then we go broke now we have to take more loans at 8% or something crazy like that and now they have us by the balls.

Crazy times ahead.

Zambia

digme wrote: »

So we go join the eu then we take out loads of loans then we go broke now we have to take more loans at 8% or something crazy like that and now they have us by the balls.

Isn't the EU the only thing standing between Ireland and defaulting?

demonspawn

I can hear the sound of boots marching down the streets already. Don't say I didn't warn yas!

I, for one, welcome our new European overlords.

Eliot Rosewater

digme wrote: »

now they have us by the balls.

I've never understood this "the EU will enslave us" school of thought. Membership of the EU is voluntary, you know. Despite the best efforts of sceptics to hide the fact, we can leave if we want.

I welcome these kind of proposals. The governmental system of this country is completely without any balance of power. The EU provides some much needed accountability for our cowboy politicians.

View

digme wrote: »

I was reading today a piece which stated

Trichet calls for tougher euro rules

By Ralph Atkins and Lionel Barber in London
Published: September 9 2010 18:00 | Last updated: September 9 2010 18:00

Eurozone members that break the region's rules on public finances should be excluded temporarily from Europe’s political decision-making, the president of the European Central Bank has proposed.
The controversial suggestion by Jean-Claude Trichet, in an interview with the Financial Times, would be part of a “quantum leap” in the governance of Europe’s 11-year old monetary union, needed to prevent a future Greece-style economic crisis.








So we go join the eu then we take out loads of loans then we go broke now we have to take more loans at 8% or something crazy like that and now they have us by the balls.

Crazy times ahead.

It is a suggestion nothing more. At the moment, it isn't even a formal proposal for the member states to actually decide on.

There are lots more suggestions and/or proposals that could be put forward. For instance, we could follow Germany's example and copy the US and Canadian system where many states/provinces have a "Balanced Budget" provision written into their laws. In other words, the legislature MUST balance the budget every year (without borrowing) and must raise taxes and/or cut spending and/or lay off civil servants (a common event) to do so.

If the member states incorporated that into their respective constitutions that would have a strong effect. Being forced to raise taxes and/or lay off people is likely to have a much greater domestic electoral impact than losing voting rights at EU level for the average voter and Government Minister.

There is nothing to stop Ireland making proposals as well. We could call for the setting up of EUAMA - a EU level body to which the "assets" and liabilities of bodies such as NAMA could be immediately transferred to. I am not sure the other member states would like that idea though.

Cavehill Red

Remember when you were told to 'Vote Yes for Jobs'?
You were actually voting yes to this.

View

Cavehill Red wrote: »

Remember when you were told to 'Vote Yes for Jobs'?
You were actually voting yes to this.

No, you weren't. These suggestions - they are not even formal proposals - did not form any part of the Lisbon Treaty.

If they did, obviously there would be no need for people, such as Trichet, now to say "Wouldn't it be a good idea if we changed the Treaties so that .... (Insert idea here)?" as the appropriate legal clauses for those ideas would already be in the post-Lisbon EU Treaties.