Austrian Oppposition: ESM Will Lead to a "Euroshima"
July 6, 2012 • 8:21AM

Yesterday's session of the Austrian parliament on the ESM and Fiscal Pact lasted from early morning into late afternoon, and was thereby visibly longer than the two-hour rush debate in the German Bundestag on June 29. The Austrian parliament featured harsh attacks against the ESM in particular by Heinz-Christian Strache, chairman of the Freedom Party (FPOE), who denounced the bailout fund as a "coup against the Austrian constitution and state," a "financial dictatorship," and a "sado-maso treaty, forcing us Austrians to pay without being allowed to have a say." The ESM would save neither the euro nor Europe, but cause an unprecedented economic, social, and political catastrophe, a "Euroshima," Strache said. He was seconded by Josef Bucher, chairman of the Alliance Future party (BZOE), who denounced the ESM as a "devil's deal" that would soon show its true character.

Due to the policy pact between the two government parties, Austrian Social Democrats (SPOE) and Austrian People's Party (OEVP), with the opposition Greens, which crossed the aisle to their camp, the ESM was passed by more than a two-thirds majority, with 128 against 53 votes. A no-confidence motion tabled by the FPOE was turned down. Both FPOE and BZOE want to mobilize for a national referendum now, as well as to take the ESM to the constitutional court of Austria.