EC process and Brussels Mole confirm that a legal mechanism exists to fleece all of us in the event of a euro bank collapse
The exceptionally unexceptional Olli Rehn
The Slog: In this follow-up to the weekend’s bailin process adoption
posts, The Slog fills in the remaining pieces of the jigsaw. You may
think you are a member of a Democratic European Union. You are not.
There are many easy ways to hide from the EU Parliament: bundling a
Delegated Regulation Supplement into a larger package (eg, on banking
union); or the meeting of an EC committee followed by “no response” from
MEPs are just two…the RRM is another. All have the force of Law. Follow
the timeline, observe the press statements, read the speeches….and make
your own minds up.
Let me at the outset pay tribute to two folks here. First, my
longstanding Brussels mole who has gone more than the extra mile here to
point me in the right direction; and the indefatigable Anna Raccoon (great post today by the way) mistress of the art of deconstructing obfuscation.
There is certainly no call at all for any tribute to the EU’s own
press officers and bureaucrats.