Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-06-15-Speech-2-228"
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"en.20100615.24.2-228"2
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"Mr President, the cancer from Greece is metastasising across the Mediterranean. We read this week that the European Commission is preparing to bail out Spain, and the President of the European Council, Mr Van Rompuy, frankly admits that in this event, the EUR 750 billion already set aside in the emergency bail-out fund would be wholly inadequate.
As the tumour spreads, rather than contemplating amputation, our leaders have decided on a lengthy course of chemotherapy which will be expensive and painful and of uncertain outcome. What I mean by that is that they will try to create the machinery of what Mr Van Rompuy calls economic governance and what his predecessor called fiscal federalism: tax harmonisation, a levy on financial transactions, a European debt agency or a European monetary fund. All these machines to try and transfer money so as to keep their project around when, of course, much the easier thing would be to excuse the taxpayers the burden of this bail-out and to give the stricken economies the massive stimulus of allowing themselves to devalue and price themselves into the market. What a high price we expect from our people in order to humour the conceits of their elites!"@en1
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