Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-05-05-Speech-3-558"

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"en.20100505.77.3-558"2
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"Mr President, it has now become clear on this tragic of days that draconian austerity measures will be imposed on Greece to preserve the euro. This cannot be right. It simply penalises the ordinary, hard-working Greek people for the profligacy of their politicians and the desire of those same politicians to prop up the doomed currency union. We in the UK remember our exit in September 1992 from the Exchange Rate Mechanism, the ERM, or, as the British politician Norman Tebbit called it, the ‘eternal recession mechanism’, membership of which had been disastrous for Britain. We escaped thanks to the Bundesbank’s refusal to prop up sterling. Tough love does work. Whilst it remains in the eurozone, Greece has no way out. Free the Greeks from the shackles of the euro. Let the IMF do its work and watch how quickly Greece recovers, as we in Britain did on leaving the ERM. Do not make the Greek people pay the price for the unattainable ambition of an EU superstate!"@en1
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"Trevor Colman (EFD ). -"1
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