May 14, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson issued the following statement after European Union officials weigh the consequences of a Greek exit from the weakening Euro:
"The situation in Greece continues to deteriorate in the wake of its national elections, as the European leaders try to figure out what to do as it rejects plans to cut out-of-control spending. Not surprisingly, Greek politicians want to have their cake and eat it to, as they want to continue their government's spending spree and have the rest of the world to subsidize it. They want to stay in the Euro, and yet want to keep their fiscal sovereignty. But Greece can't have it both ways, as these are mutually exclusive. If Greece really wants to stay in the Euro zone, it will pay for its past mistakes and certainly cede its sovereignty to Brussels. In truth, an exit from the Euro and a return to the drachma is Greece and her people's only salvation.
"While that process plays out, many are looking at the International Monetary Fund (IMF) to continue bailing out the failed European Socialist experiment in Greece and the banks that enabled it. That is why the U.S. Congress needs to act to close the IMF's $100 billion U.S. taxpayer-funded line of credit that Obama signed into law by passing Representative Cathy McMorris-Rodgers' H.R. 2313 closing the line of credit.
"It would be the height of irresponsibility for Congress to fail to protect U.S. taxpayers from having our treasury raided to bail out reckless and irresponsible politicians, when our nation faces a fiscal crisis that is every bit as severe, and will prove to be dramatically more devastating. Rather than push ourselves even further into our own debt death spiral, it is time for Congress to just say no to throwing life preservers to those who are unwilling to do what is necessary to save themselves."
To view online: http://getliberty.org/greece-may-leave-the-eu-after-all/
Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.