Posts Tagged: Eurozone

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• European Parliament, Strasbourg, 13 March 2013

• Speaker: Nigel Farage MEP, Leader of the UK Independence Party (UKIP), Co-President of the ‘Europe of Freedom and Democracy’ (EFD) Group in the European Parliament – http://nigelfaragemep.co.uk

• Debate: Preparations for the European Council meeting (14-15 March 2013)
Council and Commission statements
[2012/2803(RSP)] With a resolution on the European Council conclusions of 7-8 February concerning the Multiannual Financial Framework

Transcript:

Well, the air is thick with denial in this chamber this morning.

There has been a major political event since we last met and no one has mentioned it. Italy had an election. And 55% of the electorate voted for Eurosceptic political parties, indeed Mr Grillo’s movement managed to get 26%. It is quite tough in European politics these days to tell who the comedians are.

And what is absolutely clear is that Eurozone membership is completely incompatible with nation-state democracy. You can do what you like to take away the powers of national parliaments but people will go on voting, and there is a trend developing right across Europe; the Eurosceptic parties are going to get stronger and stronger.

And there is complete denial about the Eurozone crisis. You’d think listening to everyone this morning that it’s over. You know, Mr Barroso comes out with a technocratic speech that everything is fine and dandy. Mind you, far better than the unutterable drivel we had from [Economics and euro commissioner] Olli Rehn yesterday which sent many members to sleep.

You are not facing up to the consequences for what you’ve done. Mr Verhofstadt talks about a lost generation in Spain, Mr Daul talks about youngsters struggling to be fed by their families in Greece.

And all of that is true, but it’s being caused by the Euro. And that is what you are failing to recognise.

The Eurozone has been a complete economic disaster. [Verhofstadt starts shouting]

And the other thing you are not going to face up to… [Chairman asks Verfohstadt to control himself]

The real problem that you won’t face up to though is the state of the French economy and the fact that France is now diverging by the month with Germany.

So right at the very heart of the European project and the Eurozone project there is a disaster coming down the tracks. I am afraid in the end, the whole thing is going to break up.

But I would also point out, you’re in denial over Romania and Bulgaria. Those two countries are racked with corruption and organised crime. They should never have been allowed to join the European Union.

I want to make it absolutely clear, we in UKIP do not believe it’s right and fair to have total open borders from next year for unlimited numbers of people from those countries to come to Britain, to work, but also, if they want, to claim benefits.

And as the results in the recent Eastleigh by-election showed the British electorate are increasingly saying ‘enough is enough’.

It’s not just us, the major of Duisburg in Germany has now publicly said that the massive influx from Romania and Bulgaria is causing huge social problems.

Ladies and Gentlemen, we’ve got to face up to it. We should not be in political union with Romania and Bulgaria.

Thank you.

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Video source: EbS (European Parliament)
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• EU Member States:
Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

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Nigel Farage: Eurozone completely incompatible with nation-state democracyNigel Farage: Eurozone completely incompatible with nation-state democracyNigel Farage: Eurozone completely incompatible with nation-state democracyNigel Farage: Eurozone completely incompatible with nation-state democracy

http://www.euronews.com/ Latvia’s government has applied to join the eurozone next year.

The Baltic country would become the 18th nation to become part of the single currency zone, which has been mired in crisis for the past four years.

Guntram Wolf, from the Bruegel Institute think-tank, said: “Latvia has made very significant progress in terms of adjusting its economy, getting ahead of the curve, being competitive.”

He added that “the chances are quite good” of the European Commission giving a positive verdict for Latvia to join this year.

The European Central Bank is also involved in making the evaluation, expected to be released in June.

“I think it is a good signal that countries are still interested in joining the eurozone despite all difficulties in the eurozone, I would take it as positive news,” said Wolf.

Latvia’s currency, the lat, has been pegged to the euro since 2005.

Opinion polls say nearly two-thirds of the population are against joining the single currency.

The appetite for adopting the euro has waned across much of eastern Europe after a series of sovereign bailouts that began with Greece in 2009.

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Here at one of Europe’s most respected economic think tanks, Bruegel, researchers and analysts are continuing to crunch the latest unemployment figures which show a record number of people out of work in the eurozone. According to the EU’s statistical office, Eurostat, within the 17 countries that use the euro, an additional 95,000 people joined the dole queues in April. According to the latest figures there are now 19.4 million unemployed adults in the eurozone. That is 12.2% of the labor force. 3.6 million adults under the age of 25 are without job. In Greece and Spain youth unemployment is running at 60%. And 40% of young adults are without work in Italy. France, Europe’s second largest economy, is also experiencing record unemployment.

Jerome Hughes, Press TV, Brussels

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In Brussels, Eurozone finance ministers are meeting to discuss whether to boost the EU bailout fund which was only set up last year. The European Commission and European Central Bank want to widen the fund – to give it more flexibility if larger Eurozone members like Spain need help. Belgium’s Finance Minister wants the pot doubled to 1.5 TRILLION Euro. However Germany – the biggest euro zone economy – has so far ruled out any substantial increase. A reflection of the major tensions within the Union. Nigel Farage, a Member of the European Parliament and leader of the UK Independence Party says the whole idea of the Eurozone was a failure from the very beginning.

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Nigel Farage on ‘Monster’ Eurozone: Bailout Reinforcing FailureNigel Farage on ‘Monster’ Eurozone: Bailout Reinforcing FailureNigel Farage on ‘Monster’ Eurozone: Bailout Reinforcing FailureNigel Farage on ‘Monster’ Eurozone: Bailout Reinforcing Failure

A one-minute video which explains what the European Union is, what the Eurozone is, how everything started and what the biggest challenges of the EU currently are.

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The European Union and the Eurozone Explained in One Minute: Past, Present and FutureThe European Union and the Eurozone Explained in One Minute: Past, Present and FutureThe European Union and the Eurozone Explained in One Minute: Past, Present and FutureThe European Union and the Eurozone Explained in One Minute: Past, Present and Future

UKIP party leader Nigel Farage comments on the Greek election result, people voting for the left, and the effect of the result on the Eurozone economy and Euro political project.

Recorded from BBC2 HD, Daily Politics, 29 January 2015.

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Nigel Farage on Greek election and Eurozone (29Jan15)Nigel Farage on Greek election and Eurozone (29Jan15)Nigel Farage on Greek election and Eurozone (29Jan15)Nigel Farage on Greek election and Eurozone (29Jan15)

Analyst Marko Papic discusses Poland’s reluctance to enter the Eurozone and Warsaw’s skepticism that the European Monetary Union fulfills its national economic interests.

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The future of Eurozone

ECB Meeting Positivity. James Warren, NIESR.

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