Friday, 23 November 2012

EP president Martin Schulz, the irresponsible one

Here's European Parliament president Martin Schultz's latest warning,
"Advocating cuts in the EU budget may be popular, but it is hugely irresponsible," warned EP president Martin Schulz in a speech to EU leaders at the start of special summit on the EU's long-term budget for 2014-2020 on Thursday. "If Europe is finally to find a way out of the crisis, then we must recognise that the EU budget is not part of the problem, but part of the solution."
No, Schultz, you are the irresponsible one. And bloated bureaucratic budgets is what has been popular for many years now, and not advocating cuts - have you not had a look at the proposed EU budget for 2013 which advocates a 2.79% max increase on 2012? The EU budget could indeed be part of the solution. But only if it is cut drastically. High admin costs and projects selected and implemented through central planning kill any economy (in addition to artificially set low interest rates by the ECB etc etc), the euro area is a good example of this. You cannot spend your way out of a debt problem, especially through central planning measures (see here for some of the ridiculous stuff these eurocrats are spending tax payer money on). And certainly not when the debt/GDP ratio is 90%. Too much money have been spent and wasted already. An look what all this had done to industrial production (which is tanking) and unemployment (which is rocketing).

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