Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-05-12-Speech-4-150-000"

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"en.20110512.25.4-150-000"2
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"Madam President, across Europe, we are condemning generations of young people to emigration and poverty. We are condemning generations yet unborn and unbegot to debt – all in order to sustain this conceit of monetary union. In Ireland, GDP is down 20% from its peak – an almost incredible figure. In Greece, we have riots in protest against the austerity package; and yet we know that it is not going to work. When the bail-out was agreed a year ago, the idea was that it would be an immediate stop-gap, that it would be a short-term contingent measure, and that by now, Greece would be borrowing cheaply again as the crisis would have passed. We can see that it has failed. However, we are continuing with the same policy in Portugal and in Greece again, rather than admit our mistake. What a high price we expect our constituents to pay for our conceit!"@en1
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