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Varoufakis launches petition urging Draghi to publish legal opinion on Capital Controls

The European Central Bank has commissioned a legal opinion on the legality of the imposition of capital controls in Greece  end June 2015. But ECB chief, Mario Draghi refuses to make the findings public.  Former Greek finance Minister Yanis Varoufakis and French Socialist Party candidate for the Presidency Benoît Hamon launch a campaign to force Draghi to publish this legal report. for this purpose they have launched a petition.

Mr. Draghi, what are you afraid of?

In 2015, the European Central Bank (ECB) forced Greece’s banks to close as part of the attempt by the troika of its official lenders (the ECB, the European Commission and the International Monetary Fund) to prevent the newly-elected Greek government from doing what it had been voted in to do: renegotiate the country’s public debt, fiscal policy and reform agenda.

Following the closure of the banks, capital controls were imposed on Greece. These are still in place, with widespread social and economic costs for its already-ailing economy.

We know the ECB commissioned a legal opinion on the legality of those actions. And we want to read that opinion, but the ECB refuses to make it public.

Mr Draghi, if you acted legally, according to EU Law and the ECB charter, why do you not release the legal opinion you commissioned over the ECB’s actions that led to the closure of Greece’s banks?

We pose this question because the ECB has the exorbitant power to close a Eurozone country’s banks. Exercising this power with decisions made behind closed doors by unelected officials is inconsistent with European democracy. The least Europeans can expect is access to legal opinions that they have paid for regarding the exercise of the ECB’s enormous power. Your refusal, Mr Draghi, to grant citizens access to such legal opinions enrages Europeans and is a great gift to the forces of the Nationalist International inimical to the European Union.

Democracy and transparency are not luxuries. They are essential for Europe’s survival. To this effect, a broad alliance of politicians and academics have announced they will support a mass freedom of information request to the ECB, to be submitted by Yanis Varoufakis (DiEM25) and Fabio De Masi (MEP, GUE/NGL), demanding the publication of the ECB’s legal opinion. We call upon democrats, wherever they may live and irrespectively of their party’s political allegiances, to support this mass freedom of information request by signing DiEM25’s petition.

This campaign is just the beginning of a long struggle for transparency and democracy in Europe.

By Yanis Varoufakis | Benoît Hamon
(DiEM25, former Greek finance minister / Socialist Party candidate for the Presidency of the French Republic)

source: DiEM25

PS Transparency and democracy in ECB or other EU institutions? I don’t think so….

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4 comments

  1. I have signed and I hope others will sign.

    It is appalling the devastation that has been wrought on Greece, a country destroyed because they dared challenge the EU. A country destroyed to set an example to others.

    It does not bode well for UK the EU threatening a trade war for daring to leave.

    • Giaourti Giaourtaki

      Don’t worry, the UK got better cards than European media reports but lots of citizens feel punk’d by propaganda kuz they thought “migrants” causing Brexit were’t Poles but “migrants”.

      But problem solved, Greece will invite them to many new jobs and their kids will do so smart learning lots of languages, fantastic!
      They’ll learn Greek, a language all other Europeans should learn first in school as close to all other European languages are rooted in it….

      Only topped by Greek guest-friendship

  2. Please let me sign the petition.
    If it is demands Greece agreeing to
    Leave europe.
    We don’t want an arab-country posing
    as european.
    Bye-Bye!