The European Union, its institutions, and laws, what it has planned and how it affects you
European Stability Mechanism
Editorial Note: The above video is from the Abgeordnetencheck You Tube channel
The EU is planning a new treaty to provide a buffer for member states debt. The ESM European Stability Mechanism, would see the formation of an independent organisation protected by limited liability, and legal immunity. The ESM treaty would be granted power to request funds, initially €700 Billion, for payment by member states within 7 days. The ESM's purpose would be to provide a firewall which would be used to support member nations with debt liquidity problems.
Last Updated (Friday, 18 May 2012 09:58)
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