EU's Permanente krisemekanisme tar form

 

Her er ett lite utdrag fra EUs egen presentasjon av rammeverket til EFSF, det fjerde rike's finansdepartement, eller det nye Europa styrt fra Tyskland, med England på sidelinjen. Spesielt tragikomisk og avslørende er vell kanskje benevnelsen av European Stability Mechanism (ESM)  som en Permanent krisemekanisme.


A comprehensive strategy at European level

■Reinforcing the Stability and Growth Pact
■Automatic consequences if 3% deficit ceiling is breached
■Possible sanctions in corrective and preventive arm
■New “Fiscal Compact”
■Annual structural public deficit shall not exceed 0.5% of nominal GDP
■Rule introduced in national legal systems at constitutional (or equivalent level)
■New ”Excessive Imbalances Procedure”
■Multilateral surveillance to tackle imbalances early, sanctions possible
■“European Semester” to avoid negative spill-over effects
■“Euro-Plus-Pact”
■National measures to foster competitiveness
■Comprehensive regulatory reform agenda for financial markets
■Implementation of Basel III
■Regulation of Rating Agencies
■New European Institutions
■Three new supervisory authorities – EBA, EIOPA, ESMA – oversee banking, insurance & securities markets
■A “European Systemic Risk Board” (ESRB) to monitor macro-economic risks
■More efficient decision-making process
■Reinforcing the Eurogroup
■Creation of Euro Area Summit
■Permanent crisis mechanism – European Stability Mechanism (ESM)