Mr. Speaker, the solution to a debt crisis cannot be more debt. Yet, the NDP leader attacked the Prime Minister for refusing to provide a euro debt bailout and the Liberal Treasury Board critic said that such a bailout should be “massive”.
Any group of countries that has taxed every dollar out of its own economy, borrowed every dollar that anyone in the world would commercially lend to it, exhausted the half-trillion euro EU bailout fund and still has no plan going forward is not a good credit risk for Canadian taxpayers.
A better approach to protect Canada against the European debt crisis is for us to reject a bailout and move forward with our economic action plan, which would balance the budget within the next three years.