Posted on 07/13/2004 3:48:12 AM PDT by ScaniaBoy
EUOBSERVER/ LUXEMBOURG- The European Commission has scored a major victory over EU member states as the European Court of Justice annulled the decision of the Council to suspend a disciplinary procedure against France and Germany for repeatedly breaking the euro rules.
In a short ruling, read out in Luxembourg, the Court said today (13 July) it "annulled the conclusions adopted by the Council in which the Council held the excessive deficit procedures in abeyance".
This represents a landmark victory for the Brussels executive and affirms its role as the supervisor of EU economic policy.
But there are few legal precedents to point to what might happen next.
Since the Council's conclusions are annulled, finance ministers may have to take another decision based on the Commission recommendations that the Council illegally rejected.
However, member states are unlikely to share a single opinion on the ruling. Germany and France, which could be fined up to 10 and seven billion euro respectively, will be outraged.
But the Netherlands, which currently holds the EU presidency, has frequently called for a strict interpretation of the rules underpinning the euro and is likely to welcome the judgement.
Denmark, Sweden, and UK are not full members of the EMU and have their own currencies and couldn't care less about the European Court ruling!
PING!
This ruling will cause havoc in the EU and possibly in the financial markets as well.
In order to keep the stability of the common currency, it is essential to have certain standards to make sure that member countries (in this case: France and Germany) aren´t harming the entire EMU. All of these nations have agreed to the stability pact, and I, as a citizen of Germany, consider the courts decision to be fair and just right. Contracts cannot be declared null and void if rules do not please one party. France and Germany need to learn that!
A blow against freedom and soveriegnty... a blow for tyranny as the EU completes another grab for POWER!
You are a subject of the EU. You are a resident of the province of Germany.
LOL, last time I checked, there´s still no EU flag waving over the buildings in our bases, and the my ID card isn´t saying "EU". And, the constitution isn´t approved yet, and I hope it won´t.
Therefore, as a free man, I take pride in the words: "Ich bin ein Deutscher!". ;-)
EU bureaucrats will be in touch.
OH, I guess the whole EU constitution and economic rules must be one of those "living and growing documents".....hysterical isn't it? They decide to govern themselves under a federal EU authority, but why should agreed upon rules be enforced? France and Germany.....Kerry and Edwards....It's just giving me a funny visual.
But the Netherlands, which currently holds the EU presidency, has frequently called for a strict interpretation of the rules underpinning the euro and is likely to welcome the judgement."
The beginning of the end of the EU!!!
But how are you going to stop that in Germany?
Do you have enough brave politicians? (Not last time I looked.)
You are not allowed a referendum, so your only hope is that some other countries say no.
From your mouth to....
Regards, Ivan
That's a poser isn't it?
Cheers,
ScaniaBoy
Why are you happy that France and Germany are in trouble? Because you wish the peoples evil? Or because you think that the decision of the Minister Council was wrong in October (like the EU court says)? Or because you just hate Germans and French?
The French and German governments have been acting in this manner - "Do as I say, not as I do" - they've been very harsh on a lot of countries about entry requirements into the Euro and the EU, and they simply have not been living up to the same standards or playing by the same rules. It's justice.
Regards, Ivan
I'm sure you can count on the Brits to say no.
The plucky Danes will probably also tell the EU where it can put its constitution.
If we can force our politicians to give us a referendum I can guarantee that Sweden will give you a resounding no.
ScaniaBoy
Ok. I somehow feared it was hatred against the people. I agree with you, but I think it was good to create tight requirements to enter the EU and EMU (it was the Kohl admin then). However, I´m glad that they cannot get away with this attitude "we make and break the rules, while you follow!"
"LOL, last time I checked, there´s still no EU flag waving over the buildings in our bases, and the my ID card isn´t saying "EU"."
If you renew your passport, what will it say on the cover?
Euro Peon bump
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