Sunday, 30 May 2010

Tracking eurozone crisis measures: Eur-Lex and OJEU silent

Have things improved?

Have the proposals by the Commission been documented as preparatory acts on Eur-Lex and the decisions by the EU or eurozone member states (ECOFIN) published in the Official Journal of the European Union (OJEU) with regard to the Greek rescue loans and terms, the European financial stabilisation mechanism and the Special Purpose Vehicle?

Not by today, except for the Council Regulation 407/2010 and decisions by the European Central Bank (ECB) we have mentioned earlier in various blog posts.

Perhaps the sums involved are too insignificant (a trillion dollars with the IMF).

Perhaps these matters are of no concern to EU citizens.

Perhaps intergovernmental deals fall outside the publishing parameters of the EU.

Perhaps there are other good reasons we have not been told.

One thing is sure: Something has gone badly wrong with regard to transparency from the viewpoint of [openness; corrected] citizens .

Possibly even the markets would be a bit more trusting if exact information “black on white” would be more readily available.

Ralf Grahn