ORIGINAL FRENCH ARTICLE: http://www.humanite.fr/monde/l%E2%8...
by Patrick Apel-Muller
Translated Thursday 13 October 2011, by Bill Scobleand reviewed by
This March, Angela Merckel announced to the German government that she “will push for the necessary changes to the Lisbon Treaty which will make it possible to act earlier and more effectively when things start to go wrong. These changes will include the targeted economic sanctions.”
The German finance minister, Wolfgang Schäuble, raised the subject once again in an interview for the German tabloid “Bild”. These are necessary changes given the current crisis in the Eurozone, “although we are well aware of just how important these changes are, it could be difficult to negotiate a new treaty,” he told the newspaper. The truth of the matter is that it has taken many years and several violations of popular votes, like the one which gave a majority in France to the “no” vote, in order to come up with the current Lisbon Treaty, which came into force in 2009.
What is the aim of this revision? The aim is to transfer more of the economic prerogatives to the European Commission in order to launch the severe budget reforms without the burden of democratic constraints. Angela Merckel has already established that the introduction of a “golden rule” will get the go-ahead from the main EU member states. As a result, the possibility of establishing reflation through borrowing will be banned. Thus, on Friday Spanish MPs began to dispute the addition of this limitation of their sovereignty to the Spanish constitution. Meanwhile, in Madrid, millions of protesters rallied against this “dictatorship of the markets” and demanded a referendum.
On Monday, in the regional election campaign in Mecklenburg-Vorpommern, Angela Merckel attacked “those who live off credit” and “who threaten their own future” by refusing to accept that all countries should combine their debt in one communal pot”. Confronted with strong social dissatisfaction, the chancellor attempted to reassure people by reminding them that by 2011 the German economy had recovered to the level it had been at before the 2008 financial crisis. However, on Thursday, the German official statistical institution confirmed that the country had shown extremely weak growth of only 0.1% in the second quarter, and that this could not simply be attributed to “the closure of German nuclear power stations”. Household consumption has fallen for the first time since 2009 (to 0.7%) and the trade gap has affected the German GDP by 0.3%. The choice of “the financial whole” and constant attempts to dispel the deficit are gradually causing trade to stagnate.