Nigel Farage: Euro Crisis "Is Like Watching A Slow Motion Car Crash"

Here is the eloquent Nigel Farage, MEP and leader of the UK Independence Party, in top form at a European Council Meeting on the Financial Stability of The Euro Area in Strasbourg, December 15th , 2010.



Two things I would like to highlight:

1- I personally found it extremely insulting how Jose Barroso, President of the European Commission, was laughing at the end of Farage's devastating speech. He should have been hiding under his desk in shame.

He served as the Portugese Prime Minister from 2002-2004 and was partly responsible for that nation's decade long slide into the current financial and economic quagmire it finds itself in. The Economist reported back in 2007:
                            
                         Since 2000 the Czech Republic, Greece, Malta and Slovenia have all overtaken Portugal in terms of GDP per head. And Portuguese GDP per head has fallen from just over 80% of the EU 25 average in 1999 to just over 70% last year.

                    Portugal was the first country threatened with sanctions by the European Commission for breaching the euro zone's stability and growth pact, which sets ceilings for euro members' budget deficits. The commission thinks Portugal's sin was to let public spending soar out of control, pushing the forecast deficit in early 2005 up to 6.8% of GDP, the highest in the euro zone. Ironically the commission is now headed by José Manuel Barroso, a former Portuguese prime minister who ought to shoulder some of the fiscal blame.

Now this same man is warning that unless everybody takes a bailout from the EU/IMF "Democracy could disappear" in Greece, Spain and Portugal.

This sounds familiar doesn't it? It sounds like the threat of martial law that Hank Paulson and the Bush administration made to congress to get them to vote for the TARP $ 700 billion bailout.

Same threat. Different day.

2- The hilarious Farage quote of the night on Belgium: "here we have a non-nation trying to abolish our nation, it truly is an absolute farce"