Local view for "http://purl.org/linkedpolitics/eu/plenary/2010-11-22-Speech-1-059"
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"en.20101122.13.1-059"2
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"Madam President, my constituents in London simply cannot afford the GBP 288 estimated per family as their part of the contribution to the seven billion bail-out of Ireland. The Irish are the authors of their own misfortune: their government mismanaged their economy and fuelled a house-building boom unrelated to reality. But worst of all, they joined the European single currency.
The first step in solving their problems is to leave the euro; instead, Ireland has chosen to subject itself to financial governance from the European Union. The longer it takes to leave the euro, the worse the consequences of the exit will be. The same applies, of course, to Portugal, Italy, Spain and Greece and, no doubt, others. The only sensible thing that the late and unlamented Labour government did was to keep Britain out of the euro. A sensible thing that the coalition government can do is to stop throwing good money after bad."@en1
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