Tuesday, 29 May 2012


WHERE WILL WE GET THE MONEY IF WE VOTE NO TO THE FISCAL COMPACT ON MAY 31st? Why, from the ESM of course. How? We haven’t yet ratified the ESM Treaty so before we do and in the interests of the people they were elected to represent, the government simply refuses to sign unless the bribery/blackmail clause is removed. 

TOO LATE, YOU SAY, THAT ESM TREATY HAS ALREADY BEEN AGREED? Well, wasn’t it already agreed and signed off BEFORE the addition of that bribery/blackmail clause, hasn’t that precedent been set? Just visit it again, that’s all – simples. 

WHAT’S THAT – THE ESM CAN PROCEED WITHOUT US? Oh no it can’t my friend, not unless we ratify the amendment to TEFU Article 136, the amendment enabling the setting up of the said ESM.

WHAT YEAR, EXACTLY, WILL THE 60% DEBT/GDP REDUCTION CLAUSE KICK IN? We’re told a No vote brings uncertainty, a Yes vote brings stability – right then, when, exactly, will that clause kick in and along with the interest on the national debt (which we won’t then be allowed borrow either as it would in fact increase the national debt), how much per year in cuts/taxes will that entail? To ensure we know for certain what we’re voting for, give us that information now – I reckon it’s well in excess of €10bn/annum.

HOW DO YOU RECONCILE ARTICLES 32 TO 38 OF THE PROPOSED ESM TREATY WITH TRANSPARENCY AND ACCOUNTABILITY, FOUNDATIONS STONES OF DEMOCRACY? Here is just a flavour of those articles: Article 32 - Legal status, privileges and immunities, item 4: The property, funding and assets of the ESM shall, wherever located and by whomsoever held, be immune from search, requisition, confiscation, expropriation or any other form of seizure, taking or foreclosure by executive, judicial, administrative or legislative action.

We have the cards, let’s play them.

Regards, Diarmuid O'Flynn.


  1. Hi Diarmuid,
    well done on your endevours. I will be voting no also but I find it hard to convince some family members to do so also. I don't quite follow the second paragraph of your article..."too late...etc...

    I know the ESM has already been agreed but it has not been ratified. Do all 27 eu members have to ratify it before it is legal?



    1. It was agreed and signed off on by Minister Noonan in July 2011 but that doesn't mean it was ratified - that is done in this case by the parliament, though given the sums of money that could potentially be committed (no limit set) some of us believe this should also go to referendum.

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