Wednesday, June 15, 2011

An Unholy Alliance

Member-of-the-European-Parliament Tolls The Euro's Bell

British MEP Nigel Farage does not think that another 10 billion euros should be used to bail out Greece a year after it was last done.

"There is always an alternative. A Greek default and the return of the drachma would mean a very substantial devaluation for Greece, and it would mean many of these banks taking serious hits, and it would question the ability of the European Central Bank itself. It is better sometimes in life to face up to the fact that you have done something that is wrong. It is fundamentally out of kilter that the Greek and German economies can ever be together in an economic and monetary union," Farage said. "All we are doing is pouring good money after bad. It is time to face the reality and take the hit," he added.

• Nigel Farage MEP, UKIP, Co-President of the EFD Group in the European Parliament (Europe of Freedom and Democracy)
• Video source: Russia Today

1 comment:

Suzan said...

I'll be damned.

How did I miss this?

Must have slept late.

Thanks for the informing us.