mr president reading our voting list today i have the feeling that i am reading a long and expensive bill of fare
each of these items comes down to a reallocation of resources from european taxpayers either to some fishing fund or the solidarity fund or rescuing flood-stricken areas or whatever it is
i would like to focus on one particular abuse of this process which is the use of article one hundred and twenty-two two to mobilise money for bail-outs of stricken economies specifically that of portugal
this fund was designed for natural disasters such as earthquakes and floods
it has been reinterpreted to mean an economy that has run out of money
it is patently illegal
not only is it not provided for in the treaties it is expressly forbidden under the no bail-out clause
this chamber is in plain violation of its own regulations
in bailing out these countries we are hurting them because you do not help an indebted friend by pressing more loans on them and of course we are hurting our own taxpayers as well as violating the law
it is absurd that ireland and greece will be joining the bail-out of portugal
you cannot carry on forever getting deeper and deeper in debt
the day of reckoning is coming
