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The EU institutions invariably ignore treaties the moment they become problematic to the further progress of the EU project. It doesn't matter what the Maastric
by repolfx 8y ago
The EU institutions invariably ignore treaties the moment they become problematic to the further progress of the EU project. It doesn't matter what the Maastrict treaty says - if the political will is there to print euros to bail out Italy it will happen, if there isn't, it won't.
Consider what happened last time the treaties forbade bailouts:
https://www.reuters.com/article/us-france-lagarde-idUSTRE6BH0V020101218 https://www.reuters.com/article/us-france-lagarde-idUSTRE6BH...
“We violated all the rules because we wanted to close ranks and really rescue the euro zone,” Lagarde was quoted as saying.
“The Treaty of Lisbon was very straight-forward. No bailout.”
The summit approved a two-sentence amendment to the treaty at Germany’s behest to permit the creation of a European Stability Mechanism to handle financial crises from 2013.
- JumpCrisscross 8y agoAmending a treaty isn’t the same as ignoring it.
- repolfx 8y agoClearly the French FinMin (Lagarde) didn't agree with you. But if the 'rules' a group of people agree to are such that they are thrown out the minute they become inconvenient, then the entire concept of a treaty or written law itself becomes irrelevant.