"...Finnish Foreign Minister Pours Cold Water on Merkozy Treaty
Please consider Finnish minister pours cold water on fiscal treaty
Please consider Finnish minister pours cold water on fiscal treaty
Criticising the EU for its "terrible hurry" to sign and adopt the new rules and for circumventing "all the normal parliamentary procedures," Tuomioja wrote in his blog on Monday (16 January) that the treaty will overlap with existing EU laws on economic discipline - the so-called 'six-pack.'at http://globaleconomicanalysis.blogspot.com/2012/01/finnish-minister-pours-cold-water-on.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
The new treaty will "just confuse decision-makers, undermine the EU commission's role and create new divisions within the EU" he said.
"The whole contract is at best unnecessary and at worst harmful, and Finland has reason to oppose the whole treaty and at least remain outside it."
One of the measures to be applied by the new treaty - a "structural deficit" of 0.5 percent of GDP - would be a "completely nonsensical straitjacket" that would only deepen recession and increase unemployment, he added..."
