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Anderson criticises EU Parliament approach to fiscal crisis

22 May, 2013 - by Martina Anderson MEP

Speaking in the EU Parliament at Strasbourg today Sinn Féin MEP, Martina Anderson has criticised the EU response to the monetary crisis for being driven by blinkered ideology.

Martina Anderson said:

“Instead of changing the failed policy of austerity, we do the same thing over and over again and expert a different outcome - a definition of insanity according to Albert Einstein.

 “Intensifying the obligation on member states to follow this failed ideological approach is a sure recipe for further disaster.

 · Where is the investment programme needed to create jobs and grow GDP?

 · Where is the write-down of toxic debt?

· Why are the public still bearing the cost of the failure of banks?

 · Where is the recapitalisation of banks we were promised by the ESM?

 · Where is the lender of last resort? – a role the ECB should fulfil.

The EU’s approach is the worst of all worlds - wresting economic decision-making responsibilities from countries without any transfer of wealth that might justify fiscal union only exacerbates the situation making it more difficult to navigate a course to recovery and stability.”

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