Northwest MEP critical of European response to banking crisis

North West MEP Marian Harkin says the European Union is splitting apart in front of our eyes, and core countries such as Germany and France will forge ahead while deficit countries like Ireland could collapse.

Ms. Harkin repeated her belief that a restructuring of Irish debt will be necessary, as the current burden is unbearable.

She says banks acted like casinos, but instead of acting, the European Central Bank stood by.

Now, Marian Harkin argues, Europe has a banking crisis and, crucially, a sovereign debt crisis, and the EU is still putting sticking plasters on deep wounds.