This deal is a total swindle by bankers: NO more investor responsibility, NO more Private Sector Involvement(PSI). Taxpayers will pay the profits to bankers and speculators. Democracy and Sovereignty crushed.
This deal compounds the problems by piling more debt on the fiscally irresponsible and the fiscally prudent ensuring total destruction in all countries of europe in a few years under crushing debt and continual malinvestment and destruction of competetiveness.
Taxpayers will pay the future bill IF the markets believe this newest set of fairytales and wishful thinking from the incompetent and anti-democratic EU-leadership duo Merkozy and Brussels bureaucrats.
The Finnish Parliament will NOT confirm this agreement signed by Jyrki Katainen and this should have been crystal clear to the Merkozy duo before the summit because grand committee of Finnish Parliament stated this clearly in advance.
ESM is dead in the water and once again thanks to the arrogant crushers of democracy and destroyers of sovereignty Merkel and Sarkozy absolutely NOTHING has been solved.
It would require 133 seats(2/3 of parliament) to approve recent EU-agreement where unanimous decision making has been removed from ESM. Since The Finns party led by Timo Soini and Center Party are both opposed this will NOT happen.
Further the Social Democrats (In Finnish government with Coalition party and a bunch of smaller parties) have also said through Finance minister Jutta Urpilainen that they will NOT support majority decisions in ESM and one smaller party Christian Democrats also said the same recently. Practically only real supporter is Mr. Katainen who is the most euro enthusiastic politician in Finland.
So hell will freeze over before current EU-agreement which removes unanimity from ESM goes through Finnish Parliament.