The European Stability Mechanism (ESM): no democracy at the bailout fund | Corporate Europe Observatory
A new article exposes the lack of transparency and accountability at the ESM (the EU's bailout fund).
The ESM, the euro area’s permanent bailout fund set up in 2012, is an
international organization that operates behind closed doors, far from
public scrutiny. The institution at the heart of EU loans to
debt-ridden member states is doing its best to stave off any national
influence over the conditions attached to its loans. In addition it is
working closely with private consultancies, which appear to have
conflicts of interest. However, the ESM is immune to democracy; we have
no right to know what it is up to.
http://corporateeurope.org/economy-finance/2014/06/european-stability-mechanism-esm-no-democracy-bailout-fund
Where's my bailout?
Nicholas Noyes, CC by 2.0 via Flickr
Where's my bailout?
Nicholas Noyes, CC by 2.0 via Flickr
