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Nile Gardiner, Heritage Foundation Margaret Thatcher Center for Freedom director, on the ongoing debt crisis in Europe and its impact on America.
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Eight joining us now is now -- director of the Margaret Thatcher center for freedom that they -- its foundation and now it is always great to have you on because.
What you do so well is build a bridge from the from Europe to the United States on an immediate tweet that actually Jeff -- from one of our viewers -- Literally ES few moments ago.
JD tweeting me -- avoiding Greece's fate in the US stays a bit like turning that Titanic.
Possible but we need to get started -- right now.
Connect the dots for us what are the parallels that we can -- with what's happening in Europe to the United States and what do we need to.
Start doing right now.
Well actually I think the you know the present some -- that we -- -- Anthony Wright on America is heading down the course I've taken now by Greece and many other -- in Europe.
You don't want the United States to go down the European -- for decades.
You have had socialist governments and in Europe who have built involved welfare states as a result.
You have huge levels of over spending over boring across the European Union.
And the legacy of that today.
Is certainly it.
-- -- economic collapse across many pulse European Union -- seeing that in -- even with this latest.
The bailout agreement.
And the future looks extremely.
Bleak for the Greeks.
And this is a scenario about the United States could well face as well unless it cuts down on government spending.
Unless it gets rid of this -- big government mentality I think that's been taking over Washington in recent years the big government approach has been trying to.
Tested and fails or living Europe at a sunny when were kept.
Well we have Mario Monti -- here in the United States on a two day toward trying to and couldn't convince investor is that it can manage its two trillion dollar debt problem if you look at Italy alone though -- It has more dad and Spain Portugal Greece Ireland combined.
We're so focused on Greece right now where also we need to be looking.
I do think if it is an echoing bolster case of the -- -- -- is another Titanic but without the lifeboats frankly.
Hands of these scenario that you see in Greece Italy is also being replicate -- plays like Portugal and Spain as -- and there are a number of countries.
In the European Union.
Who remembers all the -- -- Q online the only think to the exit thing.
Of the Euro in the course of the next few months or over the next year also and -- -- I think the Italians are very very strong candidates for that.
Of the Greeks also -- the first.
-- -- -- be thrown over board.
And the situation in if -- I think is extremely.
For terrorists.
And it's important to recognize that we now have been placing government and its need to does not have a single elected.
Official in the cabinet -- includes Colson marry a multi himself who has a quintessential European Union.
A bureaucrat and he is implemented a number of reforms and -- including some.
Important austerity measures but is also increasing taxes he's not really addressing a little the fundamental problems long term which -- faces.
Including.
An extremely.
Rigid labor market is very hard to file for callable at eight incompetent.
Lazy workers in in -- era it's very very difficult actually think kicks off.
That -- -- say I didn't have a great amount of faith frankly in marry a multi sort of sweeping uses the -- Symbian as some kind of is an elaborately to say today.
Now there's a thing now it -- it may take an unelected technocrat.
To get something like this -- I'm not I'm surprised that -- hasn't gone further you know listen he's getting rid of the guild would go back to Mussolini.
And of course -- -- believe -- seventeen century but.
It may take someone who doesn't care about being elected on any side of the Atlantic.
To ultimately get these things done because they're really tough this -- -- not -- Well I would respond by saying -- that marry a multi is from the unelected sort of -- -- also all of Europe they've been in power in Brussels for many many years they all behind a lot of the fading -- -- that you see now across the European Union.
I don't think that's mr.
multi house the right kind of vision from the -- -- cuts congress like its lead back.
Well do you know they're not Europe needs Williams run out of time broke -- governor maybe talk about someone -- it might be -- -- right now the Bank of England's printing up more money in the overnight but.
The UK they've they've taken in some serious austerity and perhaps they're the ones we should be looking at as maybe the maybe that platform of getting out of this thing.
Ya I agree and I think that's on the British going down the right Paul -- the cutting spending reducing boring.
Above the -- so you're looking at pro growth measures to kick stalled he called -- That's the right way to -- ahead method involves economic freedom.
And liberty in Europe -- any -- big government regulation because that certainly is a pulse T dissolves.
Policy.
Now Gardiner of the -- -- foundation it is always great to have you on thank you for joining us today monetizes -- much we can talk.
