Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-12-01-Speech-4-169-000"
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"en.20111201.35.4-169-000"2
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"Mr President, I wonder where it comes from, this idea that the way to get rich is by receiving subsidies? It is not true of individuals and it is not true of nations. If it were true, Greece would now be the wealthiest country in the EU, and there would be angry, impoverished, penurious German crowds protesting about the bail-out that they were getting from Athens.
But, of course, as we have seen in the European Union, the reverse is true; the effect of receiving large subsidies is in fact deleterious to your GDP. The reason for that is that among states, as among individuals, people will eventually begin to arrange their affairs around qualifying for the hand out. Just as within a nation, welfare can be debilitating to the recipient, so among nations, the same principle pertains. Excessive intervention at EU level, excessive spending, was the cause of our problem. It is not going to be the solution."@en1
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