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fiscal compact

This tag is associated with 20 posts

EU, the Grand Coalition and austerity. Where does Italy’s Renzi stand?

The choice of Juncker as the next president of the European Commission is in total continuity with the harmful policies of rigor imposed in recent years by the Troika. The Italian prime minister on the one hand seems to beat his fists against the diktats of Berlin, on the other hand make us believe – … Continue reading

Europe’s debt – a con-trick binding the people to banks

From this year Italians have a 45 billion-euro–a-year bill to pay under the EU Fiscal Compact, a budgetary straightjacket binding Rome to 20 years of economically and socially lethal spending cuts and tax rises. It’s time to end this vicious cycle of impoverishment, designed for the sole benefit of private banks, and cancel the debt, says Loretta … Continue reading

If we continue with austerity we will hit the point of no return

By Giorgio Cremaschi If a patient is given an aspirin at the point that he becomes ill and a fever takes hold, the drug may work. But if you wait without giving him anything, just recommending a strict diet, and the fever grows and the disease becomes chronic and complicated, then an aspirin no longer … Continue reading

Italy: Business as usual (actually it’s even worse)

By Francesco Piobbichi Business as usual. European Central Bank Mario Draghi was the real election victor and his victory will allow him to run the country for another six months, on autopilot . The autopilot Draghi was talking about is nothing other than the set of rules laid down by the treaties (Fiscal Compact) recently … Continue reading

Why Belgian feminists say No! to Permanent Austerity

Belgian feminists have called on MPs to reject ratification of new budgetary rules that will ‘aggravate inequalities between the sexes’. Belgium is due to decide on whether to sign up to the Treaty on Stability, Coordination and Governance (TSCG), or EU fiscal compact, that came into force on 1 January this year in  12 out of … Continue reading

French parliament backs permanent austerity, but it’s hardly a victory for Hollande

Despite mass protests and demands for a referendum on the matter, in the end President Francois Hollande will get his EU budget treaty through parliament. On Tuesday, MPs passed the EU Fiscal Compact, or ‘permanent austerity treaty’ as critics describe it, by 477-70, with 21 abstentions. The Senate, which like the National Assembly, has a Socialist-led … Continue reading

France: 120 Economists Say No to the European budget treaty!

Next week, France’s National Assembly, the lower house of parliament, will vote to ratify the European treaty on Stability, Coordination and Governance , otherwise known by critics as the Permanent Austerity Treaty. Below in a statement published in Le Monde this week, 120 economists say why they reject it. Since 2008, the European Union (EU) has … Continue reading

Budget treaty an ‘offensive’ by ‘neo-liberals’ & EU grab for power, French economists warn

A collective of economists have weighed in against the EU Fiscal Compact Treaty, or golden budget rule, which French Socialist President Francois Hollande is laying before parliament next month in order to translate into the country’s laws. The collective ‘Economistes Atterrés’ warns that the the Treaty represents a twin ‘offensive’ by ‘neo-liberals’ against Keynesian economic … Continue reading

French feminists join campaign against EU Fiscal Compact

French feminists have joined a growing campaign against a new EU treaty arguing that women would be in the frontline of a scary new world of ‘permanent austerity’ . The Fiscal Compact, set to be tabled for a vote in the National Assembly in October,  would threaten women’s rights and ‘exacerbate gender inequalities’ as cuts … Continue reading

Europe storm heading Hollande’s way

How French Socialist President Hollande is wading into choppy waters over Europe. Left Foot Forward 

72% of French people want referendum on Permanent Austerity Treaty-poll.

72% of French people want a referendum on the Fiscal Compact treaty, according to a poll. The CSA poll, conducted for l’Humanité  newspaper, comes as the radical Left Front renewed demands for the decision to be made by all the French people using this method of popular vote. President François Hollande plans to adopt the new treaty, … Continue reading

Radical Left Melenchon calls for mutiny against Hollande

French radical left leader Jean-Luc Melenchon has called for a mutiny by Socialist Party ministers disenchanted with the policies of President Francois Hollande. Melenchon, a former Socialist minister who left the party and stood against Hollande as a candidate of the radical  Left Front in the presidential elections this year, said ministers who opposed Hollande’s … Continue reading

Italian parliament swings behind permanent austerity

The Italian lower house voted on Thursday to back the European Union’s fiscal compact, giving the final parliamentary green light to the agreement reached by EU leaders in March to implement what critics describe as permanent austerity. A separate vote on the European Stability Mechanism, the euro zone’s new bailout mechanism, was also due later … Continue reading

French radicals to start referendum campaign on Permanent Austerity Treaty

The radical Left Front is to launch a campaign for a referendum in France against the Fiscal Compact, known by critics as the Permanent Austerity Treaty. Agreed on 2 March 2012 by 25 EU countries, minus Britain and the Czech Republic,  the EU Fiscal Compact – a German invention officially known as Treaty on Stability, Coordination … Continue reading

European Summit: Monti wins, the Italian people lose, and austerity and recession continue

The latest ‘crunch’ EU Summit on 28-29 June has landed citizens with a huge bill to bail out the banks yet again, argue Italy’s communists. But it will not end speculation against the Euro nor the blackmail of financial markets, forcing governments to continue pursuing failed austerity policies. Paolo Ferrero, leader of Italy’s Communist Refoundation … Continue reading

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