European Tribune - Comments - What passes for good news these days

What passes for good news these days | 6 comments (6 topical, editorial, 0 hidden)

Re: What passes for good news these days (4.00 / 2)

Daniel Cohn-Bendit two days ago:

Cohn-Bendit : «L'Europe négocie un traité dont elle n'a pas besoin» - Libération		Cohn-Bendit: 'Europe is negotiating a treaty which it does not need "- Libération interview
Ce traité créant une «union budgétaire» entre les Etats de la zone euro est-il nécessaire ?		Is the treaty creating a "fiscal union" between states in the euro area needed?
Pour le Parlement, absolument pas. Tout existe déjà dans les textes que nous avons adoptés l'an dernier, en particulier dans la réforme du Pacte de stabilité et le renforcement de la coordination des politiques économiques et budgétaires. Pour le surplus, il suffirait de modifier la législation existante. La seule chose qui nécessiterait un nouveau traité, c'est la constitutionnalisation, dans les législations nationales, du «frein à l'endettement» ou «règle d'or» [qui impose un retour à l'équilibre budgétaire, ndlr]. Mais ce traité ne réglera pas la question, car il y a d'une part des Etats qui ne le ratifieront pas et, d'autre part, des Etats qui ne pourront retranscrire cette règle d'or dans leur droit interne. Par exemple, en Finlande, il faut une majorité des quatre cinquièmes pour modifier la Constitution... Même chose aux Pays-Bas ou en Grèce. En France, il n'y a tout simplement pas de majorité politique pour une telle règle. On est dans le pur affichage politique : on négocie un traité dont on n'a pas besoin.		D C-B: For Parliament, absolutely not. Everything is already in the texts that we adopted last year, especially in the reform of the Stability Pact and the strengthening of the coordination of economic and fiscal policies. For the rest, it would suffice to amend existing legislation. The only thing that would require a new treaty is the entrenchment in national legislation, of the "debt brake" or "golden rule" [which requires a return to balanced budgets, note]. But this treaty will not solve the issue, because there are member states which will not ratify it, on the one hand, and on the other hand, states that can not enshrine this golden rule into their domestic law. For example, in Finland, you need a four-fifths majority to amend the constitution. Same thing in the Netherlands and Greece. In France, there is simply no political majority for such a rule. We are in the field of pure political display: we are negotiating a treaty we don't need.

by afew (afew(a in a circle)eurotrib_dot_com) on Thu Jan 26th, 2012 at 06:02:56 AM EST

Re: What passes for good news these days (4.00 / 3)

Paraphrasing Galbraith: there is the treaty which is negotiated not because there is a need to be met, but because it is necessary to create the impression that something is being done. Such treaties are more than a substitute for action. They are widely regarded as action.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Thu Jan 26th, 2012 at 06:36:55 AM EST
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What passes for good news these days | 6 comments (6 topical, 0 editorial, 0 hidden)

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