Illegal bailouts and treaty change lead to referendums – Nigel Farage

www.ukipmeps.org ► European Parliament, Strasbourg-15 December 2010 ► SpeakerNigel Farage MEP, UKIP, Co-President of the EFD Group in the European Parliament (Europe of Freedom and Democracy) ……………………………. ► Joint debate – European Council meeting/Financial stability of euro area ► Transcript: Thank you. 2010 will be remembered as the year when the deep flaws of the euro were exposed and when the public woke up to the sheer stupidity of their leaders. And so here we have another summit, another crisis, confidence in the euro ebbing by the week – it’s like watching a slow-motion car crash. And now you want a permanent bailout mechanism. You think that if you have a fund of, say, a billion euros, all will be well. Well, it won’t be well. The failure of the euro is nothing to do with speculation. It’s nothing to do with the markets, be they currency or bonds. It’s because the north and the south in Europe cannot today or at any point be put together in a single monetary union – it won’t work. And politically, of course, you have to change the treaty. The reason being that the four German professors will win at Karlsruhe [German Constitutional court] and prove that the bailouts you put in place already were in fact illegal under the treaties. Well in many ways I welcome this treaty change. Because it will mean that there has to be a referendum in Ireland, and you never know, David Cameron might even keep his promise and hold a referendum in the United …