I don’t see the UK mentioned in the journals interpretation preamble. Is there a reason for this??

Yes Howard, the UK is opting out of the treaty.

Coy Farcical Attempts
is an anagram of
fiscal compact treaty

…makes you think…. What are they up to?
Michael Noonan knows this. He’s and English teacher.

Thanks Ian, it just shows what a secluded and uninformed life I lead. Long may it remain so.

Very well said.

Bring on the disorderly default & euro exit. I will continue to get paid in hard currency.

ok go on tom,
what do you mean

Indeed, it’s gotten far too little attention on all of this to date. Its been a month or so since I read the treaty and the ESM establishment one so I think it’s article 21 that got me most concerned and skeptical of it.

Unaccountable in every way, shape and form is what they are creating in this, and we will be recognizing that in the Fiscal Treaty by voting yes without realizing it. Why would such a clause ever be included? Nothing to this degree should be above the law and untouchable, I for one would prefer if we made our own hard choices, made cuts and adjustments where they can and where excess is clearly visible on our own accord than cede this control to other nations or banking affiliates, by it’s definition of establishment an Undemocratic institution.

The treaty will not save us or make our lives one bit better. As all the other treaties before it, they are stealing control, treaty by treaty from us, each time under the guise that it’s for the best and in our interest. I’m sick of voting against them and the majority of the population listening to the spin and shite spewed by politicians who either never read or understood them urging us to accept them for our best interests and always the opposite being the case.
Why is it that if you try explain to someone what their Govt. are demanding we vote on is not in our best interest you are looked upon as a fool, a lefty or simply ignorant? Even later when they realize they were wrong the grudge is held against you while they refuse to accept their actions and inaccuracy’s.

John,

Those countries you’re grouping under the term “progligate” are actually quite different from each other and to describe them all as “profligate” is at the very least not telling the full story.

Spain and Ireland were the good guys of the eurozone a few years ago. Their budgets were in surplus; their debt/GDP ratios were amongst the lowest in Europe. At a time when the French and Germans were running large budgetary imbalances and openly flouting the 3% deficit rule, the Spaniards and the Irish were going by the book.

Of course, in both countries, too much income was coming from the property sector and when it crashed, both countries’ finances went haywire. It wasn’t that both countries were spending money they didn’t have – they allowed their economies to become too dependent on one sector but that’s not profligacy.

We werent profligate. Our damn banks were, aided by the German banks.

Indeed. And there’s nothing in this treaty which would prevent a similar situation emerging again – nothing that would prevent a country becoming too exposed to one sector. There’s a lot of vague stuff about coordinating policies but the only hard detail is on budget deficits, debt/GDP ratios and the fines to be imposed if countries break the rules.