See U.K. Politician Skewer Euro Council as Greece Officially Gets Bailout
The formal completion of the procedure follows a political agreement between eurozone finance ministers reached in a meeting on Monday.
“The euro area member states have today formally approved the second adjustment program for Greece,” the chairman of the eurozone finance ministers Jean-Claude Juncker said in a statement. “All required national and parliamentary procedures have been finalized.”
Juncker called Greece’s second bailout a “unique opportunity for Greece that should not be missed.”
However, it should be noted that Greece was given this “unique opportunity” even after serious concerns were raised by a few EU politicians.
“You talked about how positive the last Council meeting had been – that we’ve reached the turning point, that everything is going swimmingly,” Nigel Farage, leader of the U.K. Independence Party, said yesterday while addressing European Council President Herman van Rompuy.
“But then I realized you did not mention the D word- default,” he continued, “No, that cannot be talked about. We pretend there has not been a default. Well, we know in fact in Greece last week there was a very major credit event.”
Farage went on to list Greece’s major problems and explained why attempts to prop it up via bailouts might be misguided.
“Youth unemployment in Greece went through 50 per cent last week…10 German holders of Greek bonds are going to take legal action against the banks and against the Greek Government…the German Finance Minister saying just yesterday nobody can exclude a third bailout,” Farage explained.
“I mean this is a farcical situation. And why is it happening? That’s what people in Europe want to know. Why is this happening?” Farage asked. “Is this being done to help Greece? No, it is going to crucify Greece.”
“It is being done to prop up a failing project because you know that once Greece goes, others will go as well…when leaders stand up and say that political moves are irreversible, history has one lesson. You are always, always going to be proved to be wrong,” he concluded.
See Farage deliver his remarks via YouTube:
The European Financial Stability Facility has been authorized to release the first installment of €39.4 billion, which will be disbursed in several tranches.
Juncker said the program would “allow the Greek economy to return to a sustainable path, which is in the interest of everyone,” and called on Greece to remain committed to austerity targets set as conditions for the aid.
“The Greek authorities should… continue demonstrating strong commitment and to keep up the implementation momentum by rigorously pursuing the adjustment effort in the areas of fiscal consolidation, structural reforms and privatization, strictly in line with the new programme,” Juncker’s announcement said.
[Editor's note: portions of the above are from a cross post that originally appeared on Wall St. Cheat Sheet.]
Benghazi, IRS, AP...What's next? Only TheBlaze TV offers the truth from Glenn Beck, Andrew Wilkow, and Real News from TheBlaze. Get instant access and a free trial here.
- Shock Video Surfaces: Meat Cleaver-Wielding Man Shouts ‘You People Will Never Be Safe!’ Moments After Gruesome London Attack 508 Comments
- Confusion Erupts in IRS Hearing After Lois Lerner Tries to Plead the 5th — Watch It All Unfold 470 Comments
- Pope Francis’ Sermon Sparks Debate: ‘Even the Atheists’ Have Been Redeemed ‘With the Blood of Christ’ 423 Comments
- The Tense Exchange Between Rep. Trey Gowdy and the Former IRS Head You’ve Been Waiting for…and It Doesn’t Disappoint 391 Comments
- John McCain Lectures Tea Party Senator on How ‘Business’ Gets Done in Congress: ‘That’s What We’ve Been Doing for a Couple Hundred Years’ 380 Comments
- ‘I Swear I Will Kill You…F**k You’: Conservative Comedian Gets Death Threats Following Anti-Muhammad Video 112 Comments
- ‘We…Aren’t Going to Take S**t From Homophobes’: Mysterious Pro-Firearm Ads Use Gays, Seemingly Topless Lesbians to Rail Against Gun Control 210 Comments
- Beck Issues Challenge to People of Faith in Wake of Okla. Tornado: ‘What Have You Done?’ Read More
- ‘Islamic Jihad, Islamic Jihad!: Michelle Malkin Rips Progressives, Clashes With Lib Radio Host Over Islamic Terrorism and the London Machete Attack 142 Comments
- Venezuelan President Blames Toilet Paper Shortage on the Rich Read More
- This Terrible Chart Shows the Change in Food Stamp Participation Over the Last 10 Years Read More
- Disney Makes Absolutely Mortifying Photoshop Mistake Read More
- Trey Gowdy at It Again — This Time with a Jack Bauer Reference! 105 Comments
- Emails Released: Congress Was Asking for Updates on IG’s IRS Audit Before 2012 Election Read More
- The Incredible Role Facebook Played in the Aftermath of Devastating Okla. Tornado Read More
- Tech Company Demonstrates Remote Disabling of a ‘Smart Gun’ 129 Comments
- Meet the Blind Man Nicknamed ‘Midnight Gunslinger’ Who Has 80% Shot Accuracy Read More
- How a $4.5 Million Network of 181 Sirens Helped Save Lives in Oklahoma Twister Read More
- See the Record-Setting Python a Man Caught With His Bare Hands (and Guess How Much It Weighed) Read More
- Colonial member Palmer has 1st-round lead with 62
- Rangers top Bruins in OT, force Game 5 in Boston
- Blackhawks hope to rally from 3-1 series deficit
- Safe room mandates remain rare in tornado states
- Turkey passes bill restricting alcohol sales, ads
- Hurricane center: Beware of the storm surge
- Earthquake hits Russia's Far East
- Boy Scouts approve plan to accept openly gay boys