Thursday, February 16, 2012

PS Will Reject the European Stability Mechanism

The political pushback against the Merkel-Sarkozy-IMF-ECB plan to save the euro has begun. The PS will either abstain or vote against the European Stability Mechanism, because it is linked to the compulsory budget balance provision known as "the golden rule." And apparently the PS was prodded to take this action by criticism from its left in the person of J.-L. Mélenchon.

With doubts about the ESM already multiplying rapidly in Germany, this new blow may be the straw that breaks the camel's back.

1 comment:

Anonymous said...

I don't understand how the EU can have automatic sanctions for countries that have financial troubles, but no automatic sanctions against countries that effectively remove them from the core values that found the EU, i.e., Hungary.