Clueless Politicians - Part II

As fears of the sovereign debt crisis continues to haunt Europe, our series looking at reckless or clueless statements from politicians goes on. Today we turn to Spanish Prime Minister José Luis Rodríguez Zapatero. In an interview with the Wall Street Journal back in September, he said:

"I believe that the debt crisis affecting Spain, and the eurozone in general, has passed."

Two months later: Zapatero has announced a new package of privatisations to reduce Spain's sovereign debt issuance for next year by one third, amid fears of escalating borrowing costs for the country. This package includes selling a 30% stake in the cherished Loterías y Apuestas del Estado - one of the world's oldest and most lucrative lottery groups....

Clueless politicians

We were reminded of this spectacularly inaccurate assessment the other day (from our "How the EU-elite got it wrong on the euro" briefing):

"The euro has been a rock of stability, as illustrated by the contrasting fortunes of Iceland and Ireland. Joining the single currency would be a major step [for the UK]".

- Former MEP Richard Corbett, back in 2009.

Having lost his seat in last year's European elections, Corbett is now working as an adviser to EU President Herman Van Rompuy (hopefully staying well clear of anything to do with monetary policy).

More quotes from clueless politicans to follow...