01:17Belgium: UKIP Leader, Farage, says Cyprus bailout levy is theft
Belgium: Ukip leader says Cyprus bailout levies are theft.
Leader of the UK Independence Party, Nigel Farage, addressed the unfolding Cyprus bailout crisis by saying that the proposed levies are outright theft on Tuesday. Speaking from Brussels, the de facto centre of the European Union, he likened the weaker Eurozone countries to a deck of cards, saying that once one countries goes the whole lot will come tumbling down.
Farage said "Even in my direst predictions in this parliament over the years about the way the EU bosses were behaving never did I think that would in a completely unprecidented manner resort to stealing money from peoples' bank accounts".
Ukip is well-known for its criticism of the European Union, with their website saying that the EU a fraud and that it "seemed a good idea in the 1970s but it's all gone very, very wrong".
Farage said "Do not invest anywhere in the Eurozone, you've gotta be mad to do so, because it's now run by people who don't respect democracy, who don't respect the rule of law, who don't respect the basic principles upon which Western civilisation is supposed to be based, they are propping up a Eurozone which in the end is going to collapse in disasterous failure".
Quoting the fact that Cyprus is the fifth out of seventeen countries to require a bailout, Farage said this was the reason for the Germans extracting the terms that they did for the proposed Cypriot bailout.
Farage said "Countries like Germany will realise absolutely vast losses, possibly as much as one trillion Euros, so they are prepared now to do anything, literally anything to try to keep the Euro afloat and that is why they have now resorted to what can only be described as theft".
01:17Belgium: Ukip leader says Cyprus bailout levies are theft.
Leader of the UK Independence Party, Nigel Farage, addressed the unfolding Cyprus bailout crisis by saying that the proposed levies are outright theft on Tuesday. Speaking from Brussels, the de facto centre of the European Union, he likened the weaker Eurozone countries to a deck of cards, saying that once one countries goes the whole lot will come tumbling down.
Farage said "Even in my direst predictions in this parliament over the years about the way the EU bosses were behaving never did I think that would in a completely unprecidented manner resort to stealing money from peoples' bank accounts".
Ukip is well-known for its criticism of the European Union, with their website saying that the EU a fraud and that it "seemed a good idea in the 1970s but it's all gone very, very wrong".
Farage said "Do not invest anywhere in the Eurozone, you've gotta be mad to do so, because it's now run by people who don't respect democracy, who don't respect the rule of law, who don't respect the basic principles upon which Western civilisation is supposed to be based, they are propping up a Eurozone which in the end is going to collapse in disasterous failure".
Quoting the fact that Cyprus is the fifth out of seventeen countries to require a bailout, Farage said this was the reason for the Germans extracting the terms that they did for the proposed Cypriot bailout.
Farage said "Countries like Germany will realise absolutely vast losses, possibly as much as one trillion Euros, so they are prepared now to do anything, literally anything to try to keep the Euro afloat and that is why they have now resorted to what can only be described as theft".