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Farage: ECB and IMF reinforcing failure in Greece; Barroso says 'No Plan B'

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Nigel Farage MEP, Co-President of the EFD group; European Parliament, Brussels, 28 June 2011 Mr Co-President Nigel Farage, Freedom and Democracy What an honour. We have all the presidents of the European union ahead of us telling us that everything's OK, heads in the sand, carry on, chaps, all is fine. Well, sorry, it won't wash. The Euro is living on borrowed time, is living on borrowed money and this second Greek bailout just prolongs the agony it doesn't matter how much money you throw at it how many bonds the Chinese buy, whatever deal President Sarkozy does with the French banks to change repayment dates. The fact is that Greece is going bust! She can't even afford her current repayments, let alone be forced by you to taking on a whole lot more debt, this chorus of unanimity from EU leaders and the increasingly appalling IMF is just reinforcing failure and it's raising bigger questions about the whole European project, there's been a growing loss of faith in you, guys, in these institutions because of your political dishonesty, the way that you forced through the Lisbon treaty, your appointment as the President of Europe, all of it done without referring to people at all. But now there's a bigger question. The peoples of Europe don't just think you're dishonest, they now think you're incompetent. It's bad enough to have your democracy taken from you but to have your lives now run by people who are taking us towards the economic rocks is far far worse. You run around like headless chickens lurching from one bailout to the next, never inspiring confidence, never giving any leadership. Every single prediction you make at these meetings is proved to be wrong, you are now looked at as the Brussels Bunglers. And your complete refusal to accept the contingency plan, to accept a plan B of any kind at all as millions lose their job and their lives sink increasingly into poverty, frankly is nothing less than a dereliction of duty, you are not fit for purpose. And this chamber may be empty today because MEPs frankly don't really care but as we speak there are hundreds of thousands gathering in Athens and other big Greek cities. If they reject your bullying demands, if they say no to this package and there is a default, while it'll be painful for the banks, it'll be painful for the ECB, but better surely to face up to our responsibilities now. I wonder, do you have a plan in place for that? And if they accept your bullying demands, well, don't think that the Arab spring cannot turn into a Mediterranean summer of discontent as people fight to get their democratic rights back. I know which option I would prefer. Those that try to now flag as possible plan B that will be in fact more easy are a possible alternative, they are simply lying. There is no plan B to avoid default. The only plan there is is the plan that is put forward now by European Commission, by European Central Bank and by the IMF and that is fully supported, too, by all the Member States of the euro area. And anyone who is suggesting that there is another alternative will be responsible for a real catastrophe for the public finances in Greece. This is the plan we have and when we have a plan, of course commentators can always speculate but usually I leave speculation for speculators. We are not here to speculate, we are here to take actions. And we have defined a plan, we have to stick to it. This is the plan that we have for dealing with the situation in Greece. And any idea to create alternatives to be all the time put into question will not reinforce the confidence of Greece itself in the plan and confidence of European Union and overall confidence of the markets. So our message -- if we really want to help -- is: let's stick to the plan agreed. :: ::

Video Details

Duration: 4 minutes and 35 seconds
Country: Belgium
Language: English
Genre: None
Views: 1,251
Posted by: mmister on Aug 29, 2011

The European Council President debates the outcome of the EU summit (23-24 June 2011) at a meeting of group leaders open to all MEPs. Commission President José Manuel Barroso also takes part. Earlier, EP President Jerzy Buzek had bilateral meetings with both Mr Van Rompuy and Mr Barroso.

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