Schachtians Surface To Demand EU Dictatorship

May 5, 2010 (LPAC)—Three liberal European politicians authored an article in the April 30 Swedish Svenska Dagbladet, demanding that all EU bailout packages include a temporary withdrawal of sovereignty in economic matters, like the one Greece is about to get. The three are European Parliament Members Wolf Klinz (FDP) and the Olle Schmidt (Swedish FP), together with Swedish member of Parliament Carl B. Hamilton (FP), the Swedish henchman of Iceland. Clearly following the tradition of Liberal Party leader Hjalmar Schacht , these three detail the demands in three points originating from an article by Klinz:

1. The Stability Pact must be obeyed. "Member states breaking with the pact should lose their voting rights in matters of budget deficits and crisis measures and also risk withdrawal of EU funding for support of agriculture and economic structure."

2. The Eurogroup must have an automatic crisis mechanism, using the IMF but, furthermore, "withdraw, at least temporally, the sovereignty in economic matters of the recipient country or at least a great part of policy regarding taxation, wages, labor market, social welfare etc."† They add here, "It should not be excluded that lenders should be forced to contribute through debt write offs."

3. "The Stability Pact should be expanded to also include measures for financial stability and preemption against transnational banking crises."