Nigel Farage: break up the euro and restore human dignity

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Thought this might be of interest:

[youtube]http://www.youtube.com/watch?v=nAntNOud4sA[/youtube]

Farage is right. I remember how they forced that currency onto us without popular support, a common theme for any type of European policy. They said it would benefit the economy. We'd have better economic growth - the exact opposite turned out to be true. We'd have better income - certainly not in purchasing power. Doing business or visiting other countries would be easier - barely, it costs us more, and with electronic payments, it doesn't matter what your coin or paper looks like as long as your bank won't collapse within a month. Few people actively supported the introduction of that currency even in northern Europe, but the people who did were those who got to decide. Today, the two most popular parties in the polls are both eurosceptic, with one of them wanting to leave the European Union altogether.

The European Union truly is an amazing feat of cooperation. In the face of protests, in the face of widespread hate, they continue pushing us around, punishing us for their incompetence. It's not at all an exaggeration that I'd be more competent than the entire European Commission combined. They have the competence and results of a weak, small government like Zimbabwe's, yet they have funds like they're the United States. They're completely incapable of seeing the results of what they're doing - a little child playing with a loaded firearm. I wouldn't say they're trying to commit suicide for the entire continent, but they're certainly a medium-sized mammal staring into the headlights of a train, unaware.

I have to agree with him on this, his economic assessment of Greece is spot on.
The country will have short term issues after leaving the Euro, tho in the long term it will do Greece alot of good.

Clearly the EU need to understand that the Euro is a waste of time, It's worse that the ERM!

One does not need to be a Eurosceptic to have seen this coming a long way off.

The rules were not merely bent, but ignored to permit Greece's accession to the Euro. There was clearly some short-term political gain to be made, but for the life of me I can't see what it was.

In the meantime, any undergraduate with a basic exposure to macroeconomics can tell you that a government has three levers to apply to the economy: fiscal policy (how much the government taxes and spends), monetary policy (how big the money supply is) and interest rates (how easy it is to borrow). With the Euro, European governments have forgone two of those levers leaving them discretion only in the area of fiscal policy.

And it doesn't take a genius to figure out that if you have only one monetary policy and only one interest rate mechanism, then your fiscal policy discretion is going to be effectively limited. If you continue to tax and spend as if you had control of your monetary policy, then disaster is inevitable. As we have seen.

I'm not going to wade into the question of whether or not the EU is a valuable institution for Europe. But the only way for the Euro to survive seems to be to cut off those countries that are not willing to align their fiscal policy with the larger Eurozone economies.

I absolutely love Farage's rants.

I love it even more when they show Van Rumpuy or some other shill that just looks bewildered at how someone could oppose this nonsense.

Giving up the right to print currency and control the interest rate could only have worked if fiscal policy was also controlled by Brussels. Without it, you got a lot of countries with different needs and cultures acting in their own way, but having an effect on the whole. If we flip Visagrunt's argument, the EU is like trying to run a country where you are not allowed to control fiscal policy.

Personally, I'm against a common currency due to the fact that it does in quite a significant way impact sovereignty and a governments ability to safeguard the well-being of its citizens.