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Archive for October 17th, 2009

The Lisbon Monetary Council

Posted by Ivo Cerckel on 17th October 2009

If Czech president Vaclav Klaus agrees, the Lisbon treaty would enter into force in all 25 member states of the European Union on 01 January 2010. (1)

Apart from centralising the EU and weakening democracy by moving power away from national electorates (2), the treaty would grant the European Central Bank the official status of being an EU institution, says Wikipedia. (3)

The treaty is, Klaus permitting, supposed to enter into force in January 2010.

The Gulf Co-operation Council Monetary Council, a precursor to the GCC Central Bank which, the latter, will issue the GCC single currency, will also be established by the start of next year, the GCC Secretary General Abdul Rahman al-Attiyah confirmed yesterday. (4) (5)

Is the Lisbon treaty the backdoor to bring the euro to those EU countries which refuse to also grant the eurocrats discretionary sovereignty in monetary affairs?

Ivo Cerckel
honestmoney@maktoob.com
http://twitter.com/ivocerckel/

NOTES

(1)
From The Times October 17, 2009
Vaclav Klaus determined to weather the storm over Lisbon treaty veto
Roger Boyes
http://www.timesonline.co.uk/tol/news/world/europe/article6878647.ece
SNIP
Under Article 63 of the constitution, the President has the power to negotiate international treaties. For now, Mr Klaus’s principal objection to the Lisbon treaty, which he alone has yet to ratify, is that it might allow Sudeten Germans expelled from the country after the war to initiate a flood of property demands.
It is very possible that his Prime Minister can reach a deal with the other EU leaders — but what if Mr Klaus then wants something else, or finds more loopholes to string the process out for up to ten months until David Cameron is forced to call his own referendum?

(2)
http://en.wikipedia.org/wiki/Treaty_of_Lisbon
SNIP
Prominent changes include more qualified majority voting in the Council of Ministers, increased involvement of the European Parliament in the legislative process through extended codecision with the Council of Ministers, eliminating the pillar system, preventing the provision in the Treaty of Nice (2001) reducing the number of commissioners, and the creation of a President of the European Council with a term of two and half years and a High Representative for Foreign Affairs to present a united position on EU policies. If ratified, the Treaty of Lisbon would also make the Union’s human rights charter, the Charter of Fundamental Rights, legally binding.
The stated aim of the treaty is “to complete the process started by the Treaty of Amsterdam [1997] and by the Treaty of Nice with a view to enhancing the efficiency and democratic legitimacy of the Union and to improving the coherence of its action.”Opponents of the Treaty of Lisbon, such as the British think-tank Open Europe and former Danish MEP Jens-Peter Bonde, argue that it will centralise the EU, and weaken democracy by moving power away from national electorates

(3)
http://en.wikipedia.org/wiki/Treaty_of_Lisbon#Central_Bank
SNIP
The European Central Bank would gain the official status of being an EU institution.

(4)
Gulf Monetary Council to Be Set Up by January, Attiyah Says
By Camilla Hall and Zainab Fattah
http://www.bloomberg.com/apps/news?pid=20601104&sid=a1qQiIyOnkmQ
SNIP
Oct. 16 (Bloomberg) — The Gulf Arab states’ Monetary Council, a precursor to a joint central bank for four countries planning a single currency, will be established by the start of next year, the Gulf Cooperation Council’s Secretary General Abdul Rahman al-Attiyah said.

(5)
Gulf monetary union on track 
Posted on » Saturday, October 17, 2009
http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=262008
SNIP
MUSCAT: The top GCC official yesterday said he was confident the four Gulf countries would have a monetary council - a step towards a single currency - in place by January.

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