The European Stability Mechanism is supposed to address the EU's ability to deal with the "economic crisis," but it turns out that this solution is even worse than the problem, if that's possible. It is apparently a totalitarian pact for a new European empire to be implemented within one to two years.
A new video (below) explains that the REAL import of the European Stability Mechanism (ESM). Apparently it calls for the creation of a fund of 700 billion euros that can be expanded at any time. It calls for a committee to administer this fund that is entirely above the law – one that can be neither prosecuted nor even questioned within a normal legislative venue.
It SOUNDS innocent enough when one doesn't delve into the details. Here's a description from Wikipedia:
Treaty Establishing the European Stability Mechanism ... The European Stability Mechanism itself will be established by a treaty among the eurozone states: the Treaty Establishing the European Stability Mechanism.
According to this treaty, the European Stability Mechanism will be an intergovernmental organisation under public international law and will be located in Luxembourg. It would be open to other members to join and would be led by a Board of Governors.
On 16 December 2010 the European Council agreed to a two-line amendment (see below) to the treaty that would avoid any referendums. It would simply change the EU treaties to allow for a permanent mechanism to be established.
More lulling rhetoric, it would seem, disguising the real agenda. The EU was sold as a trade association. Later on it became a currency zone. Now it apparently seeks to become an Empire, complete with vassals and conquered territories sending unlimited amounts of tribute. You can see Anthony Wile's editorial on this issue in today's edition, entitled "Euro-Union Totalitarian Empire Emerges Full Blown With ESM?
(Video from Abgeordnetencheck's YouTube user channel)