ESM stands for European Speculators Mechanism
The Federal Cabinet approved on Wednesday the so-called permanent European Stability Mechanism (ESM). DIE LINKE party chair, Gesine Lötzsch, explains further:
The ESM is the largest rescue package that has ever been stretched out over a casino by governments. Speculators receive € 500 billion from the European taxpayers. The rules in this casino have not changed. The Finance Ministers of the Euro countries could not even reach a consensus on the introduction of a financial transaction tax. To this was paid particular attention by the lobbyists of the financial industry. Speculators can now uninterruptedly continue their games against entire economies and plunge millions into misery.
The Federal Government has given up the timid fight against the financial industry. Now it is fighting stubbornly against the Europeans, who have not caused the crisis. The Fiscal Pact is against the citizens. Money has to be taken out of their pockets, so that the games in the casinos can go on undisturbed.
DIE LINKE rejects the ESM and the Fiscal Pact. Both instruments will not lead Europe out of the crisis. On the contrary, they will be the cause for the majority of the people having less in their pockets and a minority further enriching itself. This has nothing to do with social market economy anymore – this is plain capitalism. The Federal Government must take up the fight against the financial mafia or step down.