Don't want to see Ads? Register for your free dotSUB account here!
EU: Treaty of debt (ESM) - stop it now!
Duration:
3 minutes and 53 seconds
Country:
Belgium
Language:
English
Genre:
Documentary
Producer:
http://www.youtube.com/watch?v=5CZr17HLH5U
Director:
mustwatch.eu
Views:
12,408
(9,472
embedded)
Posted by:
reformy.cz on Oct 28, 2011
ttp://www.abgeordneten-check.de/karte.html?c=69 "EU: Treaty of debt (ESM) - stop it now!" on Abgeordneten-Check.de Die EU droht sich in eine schuldenbasierte Transferunion, eine
Translate and Transcribe
-
Sign In/Register for dotSUB to translate this video.
Share
- Embed Video
- Embed normal player
- Embed a smaller player
- Advanced Embedding Options
-
Embedding OptionsSize:Language:Embed Code
- Embed transcript
- Embed transcript in:
-
Invite a user to dotSUB
Your invitation to join dotSUB was successfulThere was an error inviting that user to dotSUB
Video Transcription
Show in new window
- Are the european union and its common currency facing a crisis?
- What can and should be done?
- The EU was planning a new treaty called the European Stability Mechanism or ESM.
- A treaty of debt.
- Members of Parliament all have access to the draft legislation.
- The authorized capital stock shall be seven hundred billion euros.
- Question.
- Why seven hundred billion? Where did that number come from? And by whom and on what
- basis was it calculated?
- ESM members hereby irrevocably and unconditionally undertake to pay on
- demand any capital call made on them within seven days of receipt of such demand.
- Question.
- Nothing really. That part is clear. If the ESM needs money we have seven days to pay.
- Taking normal bank processing times into account
- that means we have four days to write a check.
- But what does "irrevocably and unconditionally" mean?
- What if we have a new parliament, one that doesn't want to transfer money to the ESM?
- Do we have to pay anyway?
- The Board of Governors may decide to change the authorized capital and amend
- Article 8 accordingly.
- Question.
- Pardon me?
- Seven hundred billion is just the beginning?
- The ESM can stock up the fund as much as it wants to
- anytime it wants to?
- And we would then be required under Article 9 to irrevocably and
- unconditionally pay up?
- The ESM shall have full legal capacity to institute legal proceedings.
- The ESM, its property, funding and assets
- shall enjoy immunity from every form of judicial process.
- Question. So the ESM program can sue us but we can't challenge it in court?
- The property, funding and assets of the ESM shall be immune from search,
- requisition, confiscation, expropriation, or any other form of seizure,
- taking or foreclosure
- by executive, judicial, administrative or legislative action.
- Question.
- Immune from judicial action was covered in the last point but this means neither
- our government's nor are legislatures nor any of our democratic laws
- have any effect on the ESM organization?
- That's a pretty powerful treaty!
- Governors, alternate Governors, Directors, alternate Directors, the Managing
- Director and staff members shall be immune from legal process with respect
- to acts performed by them and shall enjoy inviolability in respect to
- their official papers and documents.
- Question. So anyone involved in the ESM is off the hook?
- They can't be held accountable for anything? And does the inviolability
- of their papers mean we can't destroy them, or that we won't even be allowed to
- see what's been written?
- The treaty establishes a new intergovernmental organization to which we are required to
- transfer unlimited assets within seven days
- if it so requests.
- An organization that can sue us but is immune from all forms of prosecution
- and whose managers enjoy the same immunity.
- There are no independent reviewers
- and no existing laws apply?
- Governments cannot take action against it?
- Europe's national budgets in the hands of one single unelected
- intergovernmental organization?
- Is that the future of Europe?
- Is that the new EU?
- A Europe devoid of sovereign democracies?
- Is that what you want?
- If that is NOT what you want, write, email or call your government representative.
- It's your right to protest!
- euroseptik.cz :: reformy.cz :: svobodni.cz


Report this video as offensive