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Friday 22 August 2014

Barroso's ex-adviser hits out at EU's bailout 'abuse'

Published 07/05/2014 | 02:30

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A PROMINENT former adviser to the president of the European Commission has described the EU's treatment of Ireland throughout the financial crisis as "outrageous".

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Phillippe Legrain believes key institutions such as the European Central Bank "abused the fact" Ireland wanted to remain part of the euro.

"It was outrageous of Germany, the European Commission and above all the European Central Bank to threaten to force Ireland out of the euro if it did not follow through with that foolish guarantee," said Manuel Barroso's ex-adviser. And, as a result, he said the bank guarantee had cost "€14,000 for every man, woman and child".

Irish Independent

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