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Greece being asked to perform economic sabotage – Morgan

24 February, 2010

 Morgan said:

“Sinn Féin does not support the actions Greece is being asked to take.

“Greece is being asked to inflict economic sabotage on its own country in order to fall in line with an outdated economic approach.

“But the government is happy because it appears we are no longer considered the naughty children of Europe even though they robbed several generations of Irish people.

“This is the same medicine being passed onto Greece now to ensure they bring their budgetary deficit down by 4% in 2010. It was the EMU’s one rule fits all that caused much of the smaller economies in Europe’s problems in the first place. The command that every economy stay within the 3% Stability and Growth pact, when different countries have different needs, further damaged economic development.

“The insistence now that economies bring their domestic deficits back to within this 3% is utter madness. Attempting to reduce a structural deficit in a time of recession is counterproductive. Deficit reduction should be counter-cyclical, to allow government’s the sovereign decision making powers needed to right an economy in decline. Borrowing for investment should be allowed, if that investment is designed to stimulate an economy and therefore grow it.” ENDS

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