Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-154-000"
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"en.20110914.24.3-154-000"2
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"Mr President, ‘This is the midnight – let no star Delude us – dawn is very far. This is the tempest long foretold, Slow to make head but sure to hold’. The markets are now pricing in a 98% likelihood of a massive default in Greece and we have spent this morning in the House jamming our fingers in our ears and humming Beethoven’s Ninth. The assumptions on which European integration has rested are crumbling. Big is not beautiful. National differences cannot be eradicated. Harmonisation does not lead to prosperity.
It is not just the European assumptions that are crumbling: it is the whole Keynesian edifice on which they rest. All those men who think of themselves as practical, but are in fact slaves to some long-defunct economist, are now finding that their elite system is in ruins. You cannot spend your way to growth. You cannot increase consumption without producing anything, at least not in the long term. You cannot debase a currency without consequences, and you cannot keep borrowing forever. And if you try to do those things, what happens? You are about to find out!"@en1
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The resource appears as object in 2 triples