Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-06-22-Speech-3-045-000"

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". Mr President, every time I ask Mr Barroso what his Plan B is, he says there is no need for one. Mr Barroso, every time I predict that another country is on the verge of a bail-out you say, ‘no no, there is no problem’. Here we are, on the verge of the second Greek bail-out, and you say, ‘there is no alternative’. We must continue down this route. We must ignore the fact that the Spanish bond market is telling us that they are going to be next. What a fine mess you have got us into. You have a 100% record for being wrong with every single prediction about the euro and you say today that this package will put Greece on the road to growth, but no it won’t. It will put Greece on the road to a third bail-out, which we will be discussing in a just a few 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 its people being told they have to accept this austerity package. They have to accept cutting their economy to a level that will put them in total economic depression. They are told there is no alternative to this; it is a form of sado-monetarism, and it is sending them crazy. They are on the streets and there is violence, and frankly this can only get worse. You have stripped them not just of money; you have stripped them of their democracy. What good Europeans, really good Europeans, would do, is provide an alternative to help the Greeks re-establish their own currency, to allow them to devalue, to let them renegotiate their debts, because their debt-to-GDP ratio has passed the point of no return. Then, and only then, can real austerity packages work. Only then will the Greek people accept they have got to make these cuts. If we carry on down the current road, it is the path to social and economic disaster."@en1

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