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Nigel Farage: EU growth package puts Greece on road to 3rd bailout

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Nigel Farage MEP, Co-President of the EFD group, Brussels, 22 June 2011 Mr Farage for two minutes. Mr Barroso, every time I ask you what is your plan B, you say there's no need. And every time I predict that another country is on the verge of a bailout, you say, "No, no, there's no problem." And here we are, on the verge of the second Greek bailout and you say, there is no alternative. We must continue down this route, we must ignore the fact that the Spanish bond markets are telling us that they are gonna be next. What a fine mess you got us into! You have a 100% record for being wrong with every single prediction about the euro. And when you say today that this package will put Greece on the road to growth, oh no it won't, it'll put them on the road to the third bailout which we'll be discussing in a few short months' time. I have to say I find it a truly sickening sight to see the country that actually invented democracy being bullied by you and the increasingly appalling International Monetary Fund and being told they have to accept this austerity package, they have to accept cutting their economy to a level that'll put them into a total economic depression. They're told there is no alternative to this, it's a form of sado-monetarism and it's sending them crazy, they're on the streets and there's violence and frankly this can only get worse. You've stripped them not just of money, you've stripped them of their democracy. So what good Europeans, really good Europeans would do, is to provide an alternative To help the Greeks re-establish their own currency, to allow them to devalue, to let them to renegotiate their debts because their debt-to-GDP ratio has passed the point of no return. And then and only then can real austerity packages work, only then will the Greek people accept they've gotta make these cuts If we carry on down the current road, it is the path to social and economic disaster. There's a blue card, Miss Tzavela. Will you accept a question, Mr Farage? -Yes. Thank you very much, President. I have the following question to Mr Farage. I would like to know what the external debt is of the United Kingdom and whether he thinks that the UK should be using isolation as a policy. The United Kingdom went through this exactly twenty years ago. We were part of the Exchange Rate Mechanism, we were trapped... tried to peg ourselves against the Deutschmark with interest rates that were double what they should be. It cost one million British people unnecessarily their jobs, mercifully, we crashed out of the Exchange Rate Mechanism, interest rates came down and we had a happy time during the 1990's. You cannot fuse together different economies with different rates of growth, with different patterns of trade across the world. We learnt our lesson, we didn't join the euro, thank God. You, I'm afraid are currently trapped inside an economic prison. :: ::

Video Details

Duration: 3 minutes and 41 seconds
Country: Belgium
Language: English
Genre: None
Views: 357
Posted by: mmister on Jun 22, 2011

• European Parliament, Brussels - 22 June 2011

• Speaker: Nigel Farage MEP, UKIP, Co-President of the EFD Group in the European Parliament (Europe of Freedom and Democracy)

• 'Blue card' question: Niki Tzavela (Greece) - EFD Group
• Debate: Preparations for the European Council meeting of the 24 June 2011


• Video Source:
EbS - European Parliament


• EU Member States:
Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

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