Local view for "http://purl.org/linkedpolitics/eu/plenary/2014-02-25-Speech-2-027-000"
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"en.20140225.4.2-027-000"2
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"The point that the late Eddie George, Governor of the Bank of England, made is that it is tough enough to have an interest rate that works for Newcastle and London, let alone to have one that works across the whole of Europe, so there is a valid economic argument.
However, the taxpayers in London do not object strongly to transfers going to Newcastle or Scotland or wherever they may be needed because we are part of the same country. The problem you have with the euro area is not just this huge economic imbalance between north and south, but that increasingly the taxpayers of the north do not want to go on subsidising the south because there is no sense of European identity. We are very different countries."@en1
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