July 2013

Open Europe ‘s 2010 report (updated in 2013), lists promises made by the EU elite over the last 15 years, highlighting that the politicians who sold their citizens the euro failed to either grasp or tell the whole truth about the single currency.

See below for a PDF version of the full report including all quotes and sources.

The worst broken promises and reckless predictions

The euro is a great success, and in today’s global economy, the pound is no longer an important currency. If we are not careful, we could become like Iceland in the next financial crisis.

BT Group Chairman, Sir Michael Rake, 2009

We have a Treaty under which there is no possibility of paying to bailout states in difficulty.

German Chancellor, Angela Merkel, 1 March 2010

[Greek Prime Minister] Papandreou has said that he didn’t want one cent. The German government will not give one cent, anyway.

Then German Economy Minister, Rainer Brüderle, 5 March 2010

The reality of the euro has exposed the absurdity of many anti-European scares while increasing the public thirst for information. Public opinion is already changing…as people can see the success of the new currency on the mainland.

Kenneth Clarke MP, 2002

The euro has been a rock of stability, as illustrated by the contrasting fortunes of Iceland and Ireland. Joining the single currency would be a major step.

Labour MEP, Richard Corbett, 2009

We must enter the euro with a clean sheet on all the criteria.

Then Greek Finance Minister, Yannis Papantoniou, 1999

Business leaders appreciate the success of the euro over its first decade. It has defied the doomsayers who predicted failure.

Business for New Europe Chairman, Roland Rudd, 2009

Solidarity is possible, [and] will exist. A bailout is not possible and will not exist.

Then EU Economic and Monetary Affairs Commissioner, Joaquín Almunia, 29 January 2010

The Community shall not be liable for or assume the commitments of central governments, regional, local or other public authorities, other bodies governed by public law, or public undertakings of any Member State.

Article 104b, Maastricht Treaty, 1992

The euro area now represents a pole of stability for those countries participating in it by protecting them from speculation and financial turmoil. It is strengthening the internal market and contributing to the maintenance of healthy fundamental figures, fostering sustainable growth.

European Council conclusions, 2001

The euro is a protection shield against the crisis.

Then European Commission President, José Manuel Barroso, 5 February 2010

The decision to launch the single currency is the first step and marks the turning point for Europe, marks stability and growth and is crucial to high levels of growth and employment.

Then UK Prime Minister, Tony Blair, 1998

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