Barroso Blames Ireland for the Euro’s Problems
-Speaking like a fascist thug, European
Commission President José Manuel Barroso made clear that Ireland
will not be receiving and retroactive debt relief for having
bailed out the banks of the Eurozone. He even said that Ireland
is to blame for the Eurozone’s problems.
“I am saying this because it would be wrong to give the
impression that Europe has created a problem for Ireland and now
Europe has to help Ireland,” he said. “In fact, it was the
banking sector in Ireland–it was one of the biggest problems in
the world in terms of banking stability what happened in Ireland.
Let’s be honest about this…. But let’s be clear about the
responsibility, because sometimes not only in the Irish case, I
hear it’s suggested the problem have been by created by the
European Union or by the euro. It is exactly the opposite. The
problems have been created in some countries because they did not
observe the minimum prudence in terms of managing their banking
or financial sector, in other countries, because they were not
able to control the excessive debt. This is the case.”
So much for the poster boy of the EU. Ireland will be stuck
with paying off the huge bailout debts for decades.
Barroso’s ravings did not stop Standard & Poor’s from
cutting its long-term credit rating on the European Union itself
to AA-plus from AAA today. Claiming the growing tensions on EU
budget negotiations in various states their statement said, “In
our opinion, the overall creditworthiness of the now 28 European
Union (EU) member states has declined. In our view, EU budgetary
negotiations have become more contentious, signaling what we
consider to be rising risks to the support of the EU from some
Speaking of “prudence” or lack thereof, the EU has run up an
outstanding loans of EU56 billion, according to S&P and it is not
even a sovereign state. One should ask why are the EUrocrats not
cutting their bloated salaries, pensions, and health benefits?
Defuse the Euro Time-Bomb with a Global Glass-Steagall
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