Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-01-18-Speech-3-133-000"

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"Mr President, there is a very bad case of denial in this Chamber this morning, a total refusal to accept that the euro project is failing. Greece is on the verge of a default. The bail-out fund is creaking. The credibility of the European Central Bank itself is now being called into question. It is all on the verge of going belly-up, and yet when the credit rating agencies tell the truth you try and pretend it is not happening. In fact Mr Brok and others were suggesting that it is all some dastardly plot by the Americans, the British and the Anglo Saxon markets to bring down the euro. The agencies are nothing more than the canary in the mine. They are telling you the truth, so please listen to Standard and Poor’s when they say that austerity alone will not work. You are driving these countries into depression just to save your euro project. But I must acknowledge that you have lost absolutely nothing when it comes to your powers of deception. No, that is still very much on course. It was Nick Clegg who gave us the clue – a man who, I suspect, is rather more popular here than he is back home these days. Clegg was asked whether there should be a referendum on the forthcoming treaty. He said there was no need for that because it was all going to be ‘folded into’ the existing treaties. I thought, ‘What the dickens is he talking about?’ Well, now I have learnt. Mr Cohn-Bendit made it clear: it is to be the ‘Community method’. It is to be legislation where you know you have a majority in this Parliament and you know, under qualified majority in the Council, you can get everything through. Why are you doing it this way? It is simple, is it not? – it is to avoid referendums. Because you know that if a treaty was put to Ireland and many other countries, the answer would be ‘no’. The peoples of Europe do not want this sado-monetarist package. The peoples of Europe, particularly in the case of the South, need to get out of the euro, to have devaluation and a chance to re-establish themselves again. You are denying them that chance and, by pushing the ‘Community method’, you are destroying democracy in Europe. I hope you are all very proud of yourselves."@en1

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