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Farage: Euro-fanatic Lagarde unsuited for IMF top post
Date 06/06/2011 22:39  Author webmaster  Hits 6383  Language Global
VIDEO
Speaking in Strasbourg today during the debate on the selection process of a new IMF head to replace Dominique Strauss-Kahn, UKIP Leader Nigel Farage said French finance minister Christine Lagarde has "a vested interest" and "is in fact a highly unsuited candidate."

Mr Farage said Strauss-Kahn himself had been a poor choice of a candidate and he had used the IMF to shore up the failing euro.

"And now," he said, "you want to compound that by approving of Christine Lagarde, another member of the European political elite, another Euro-fanatic, somebody else who believes in propping up this euro project."

Full transcript below





"I would've thought this is a very bad choice. The international community at some point will tell you where to get off. Perhaps not just quite yet."

Mr Farage said that the "validity of the European Central Bank itself will very shortly be called into question.

"I've warned that you can't go on buying your own bad debt. But we've reached the point where within weeks we may well see that the ECB itself is insolvent, so perhaps your friend Mrs Lagarde could help bail that out as well."

Full transcript:

Commissioner Rehn, I've been looking at the IMF charter, and there is nothing here that would surprise you. It's there to promote balanced growth, exchange rate stability to lessen disequlibrium, and to help countries that are in trouble.

The classic method is, shore up the finances and organise a competitive devaluation. Nowhere in here does it say that the IMF is there to support political experiments. And in so many ways that's what Dominique Strauss-Kahn did. He used the IMF to help bailout the failing euro project and as such he was a very poor choice of candidate.

And now you want to compound that by approving of Christine Lagarde, another member of the European political elite, another Euro-fanatic, somebody else who believes in propping up this euro project.

And I would have thought, as she's got a vested interest, she is in fact a highly unsuited candidate - it's as if the EU has hijacked the IMF; that it's there now as part of the support mechanism for the euro.

So it's not just the taxpayers of the eurozone and the non-eurozone EU members, now it's the whole world has to help prop up the euro as the Greek problem compounds by the day.

Well I suppose in some ways you may well need her, because not only is Geece going bust, not only are we heading for the fourth bailout, but as I warned before in this assembly, the validity of the European Central Bank itself will very shortly be called into question. I've warned that you can't go on buying your own bad debt. But we've reached the point where within weeks we may well see that the ECB itself is insolvent, so perhaps your friend Mrs Lagarde could help bail that out as well.

I would've thought this is a very bad choice. The international community at some point will tell you where to get off. Perhaps not just quite yet.

ENDS
www.ukip.org
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