The ruling euro-sceptic ODS party in the Czech Republic wants to push for a referendum on the country's future eurozone accession, claiming that the rules have changed since 2003 when Czechs said yes to the EU and the euro.Conditions Have Changed
We signed up to a monetary union, not a transfer union or a bond union in our accession treaty. This is the major reason why the Czech Prime minister wishes to call the referendum on this matter," said Czech MEP Jan Zahradil, leader of the European Conservatives and Reformists.
Last weekend, at an ODS party congress, Prime Minister Petr Necas demanded a referendum on whether the country should join the eurozone.
"The conditions under which the Czech citizens decided in a referendum in 2003 on the country's accession to the EU and on its commitment to adopt the single currency, euro, have changed. That is why the ODS will demand that a possible accession to the single currency and the entry into the European stabilisation mechanism be decided on by Czech citizens," the ODS resolution says.
Prime Minister Necas also floated the idea in case Germany gets it way on another treaty change bringing about more economic integration and tougher sanctions for deficit sinners.
"In the event that there is a change to fundamental rights that would result in powers being transferred from national organs to European organs, this government is bound to ratify this step with a referendum,� Necas told reporters in Brussels on Sunday evening.
It is crystal clear the rules and conditions have changed. Thus, the Czech prime minister is right to call a voter referendum.
The ESM alone is reason enough to tell the EU bureaucrats where to shove it the Euro. For details, please see Treaty of Debt - An Eye Opening Video on the ESM Bailout Mechanism
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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