Many economists have been protesting for months against the austerity policies imposed throughout Europe and further strengthened in the European fiscal Treaty. For example, Nobel Price Paul Krugman, recently stated it would be the "Europe's Economic Suicide".

The seventeen eurozone states, plus several other EU states but no Britain, agreed to a new deal aimed at saving Europe's common currency. New EU treaties require unanimous ratification by member states (most states holding parliamentary votes and some like Ireland requiring referendums). However, the new deal was termed as an "intergovernmental accord", suggesting it does not fall under the democratic rules for treaties concluded between sovereign States. Our MEP Marta Andreasen, of the UK Independence Party, explains why UK has now been relegated to the “second division” in Europe, and that, according to her, it is now time to “withdraw” completely.

The Parliament must aim to a huge reduction of expenses and set its main priorities. Moreover, it’s important to carefully valuate how European funds are used in order to prevent what has been happening in the south of Italy.