MALAGA GAZETTE

Wednesday, May 23, 2012

Dutch politician Geert Wilders seeks to postpone ratification of ESM


Wednesday, May 23, 2012 |

He wants ratification delayed until after elections he precipitated when he brought about the collapse of the government last month over budget cuts. Mr Wilders has proposed that the Netherlands leave the eurozone and aims to turn the 12 September elections into a referendum on the euro and EU membership. A Dutch TV poll found that 59% of Dutch voters favour postponing a decision on ratifying the ESM until after the elections. A court in The Hague will hold a hearing on Tuesday 29 May to decide when it will rule on the matter. The Dutch lower house of parliament is expected to approve the pan-European ESM plan on Wednesday. The ESM was created to ease market pressure on indebted eurozone nations like Greece and prevent contagion across the eurozone and is due to be launched in July. It will run in parallel with the temporary European Financial Stability Facility for one year. The Netherlands is expected to contribute some 5.71% to the ESM. Once approved by the lower house, the ratification will be submitted to the Senate for a vote on a day yet to be determined. Mr Wilders, who is also know for his anti-Islam stance, opposes the ESM's endorsement, which he described as "a transfer of sovereignty to Brussels".


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