Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-07-03-Speech-2-066-000"
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"en.20120703.5.2-066-000"2
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"Mr President, that is the 19th crisis summit that Mr Cameron has been to. As the Rolling Stones might say, the 19th nervous breakdown, and that is reflected I think by the funereal mood in this Chamber this morning.
Yes, on that Friday morning ‘breakthrough’ was cried, and indeed Mr Van Rompuy parroted the word this morning: ‘breakthrough’. Nobody believes you. The wheels are coming off.
This European Stability Mechanism, your new bailout vehicle, is doomed before it starts. We have legal challenges in Ireland and in Germany. We have the Estonian Justice Minister saying it will not fit their constitution but – most fun of all – the Finns and the Dutch seem to have broken the agreement that was made in the middle of the night. Perhaps they were excluded from this, perhaps the little countries do not have a say in Europe at all any more. It is not credible. The euro crisis now looks to me to be frankly insoluble.
There is also a massive crisis of leadership. It is lovely to see you, Mr Van Rompuy. You have not been here for many months; it is delightful to have you back. Last time you were here, you told us we had turned the corner, that the worst of the crisis was over. With every one of your predictions, it goes on getting worse. I am sorry, sir: you do not have the presence, the credibility or the standing for the international markets to believe that you can provide a solution. And Mr Barroso here: at the G20, he stood up at the press conference and said that we do not need any lessons in democracy – said the unelected President of the European Commission. I mean, he went on to say that the eurozone’s problems had been caused by unorthodox practices in North America.
You have made yourselves an international laughing stock. You do not have any credibility. But one piece of helpful advice from me: do not this summer go on any billionaires’ yachts on extended holidays, because the markets guarantee we will all be back here in August."@en1
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