It is bad enough, hysterical enough and irrational enough to change the way the EU works in a mad weekend scramble to make a deadline of when markets open on Monday. But it is truly shocking that sweeping changes, which have huge implications for public finances, are built on a fiction which serves as a convenient alibi, a mechanism for the political class to evade accountability.
The legal basis for the new EU “stabilisation mechanism” will be the “exceptional occurrences” clause contained within Article 122 of the Lisbon Treaty – note my emphasis below.
“Where a member state is in difficulties or is seriously threatened with difficulties caused by natural disasters or exceptional occurrences beyond its control, the Council, on a proposal from the Commission, may grant, under certain conditions, Union financial assistance to the member state,” states the clause.
“Exceptional occurrences beyond control”? This is a lie. A whopping, howling lie told to us by Europe’s political class.
For more: Europe not EU
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