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France poised to 'tax & spend' as Socialist Party wins big

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    EU Parliament member Daniel Hannan reacts

  • Duration 3:43
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I mean lot of Mexico where the G-20 -- kicking off in Greece is the word but they needed to beat France's the word instead because the -- taking a hard and I mean hard left turn.

It -- socialism last night with the tax and spend party winning more than 300 seats in parliament -- -- -- absolute majority.

To a member of the European Parliament.

-- very worried about this development and then you know at out of nowhere -- -- so focused on Greece and and whether it's going to really picked up on austerity measures stay in the -- That we lose sight of the fact that a much much larger economy -- even harder left -- -- -- -- -- You know -- -- I would say that the lesson is that when the right becomes corporate taste.

It opens the -- to the populist left.

If the conservatives are represented by -- collect some.

It's not very surprising that the -- -- I'm looking for a more radical alternative.

But does that also mean that voters are looking for an alternative to any sort of austerity anything that even slightly brings them.

Well yes I think that that is a lot of the problem people -- being treated as children you know.

It if you say to a four year old you wanna have the cookie today or -- and have -- tomorrow that the first instinct is to say both please.

And that's pretty much what's just happened in the Greek election we don't want the austerity but we insist on keeping the Euro which is what's causing -- And we don't wanna be told -- we have to choose and you guys can sort it all out for us.

That's what happens just as a person can be in front flies by welfare so an entire nation can be in front allies when it's encouraged to look.

Beyond its borders for solutions you know what -- novel this crazy solution in in Europe -- which is you you couldn't make it up the the Spanish government is having to pay 7% to -- McCain it's -- at 7% to get to Spanish banks which can borrow 1% from the European central -- So that the banks can -- back to the Spanish government -- 7% so that the Spanish government can bail the banks out I mean is it any wonder people are voting against the whole thing.

But then you have to ask yourself this if they're not gonna rain in some of the abusive spending and public -- that's been pretty rampant across Europe.

And now we're talking about giving Greece more time to get get through its home.

It's like -- collective will European Willis is gone and and I don't know what the repercussions are globally but I know there they can't be.

Very favorable.

-- you're right I mean.

-- into this crazy spiral because the truth is that the leaders of the -- from the beginning.

Decided that the priority was to keep the Europe.

And to keep that political system and their ideology intact at what at the price to the poll riches you have to use the and so we can -- see how high that prices in the southern countries in Greece and Spain and Italy it's deflation poverty and immigration.

And in the -- in countries it looks like endless tax -- It -- this since this crisis began we have been treating.

The debt crisis with -- that's so you know I -- you mentioned Greisen and fronts in Europe and -- I -- I think Spain is a place to watch now.

Spain just had a hundred billion Euro bailout.

And its debt has spiked it make no difference -- told that in fact the day off to the bailout.

Spanish banks.

-- the Spanish government was downgraded three notches by Moody's perfectly -- because it's just added a hundred million euros.

To it's it's external debt every Spanish family now I lose 151000 euros and it didn't -- ten days ago.

And to -- -- of soul that of course this is this is this is that.

No way to run any kind of any kind of government.

An -- thank you very much.

The general Hannan in in your --

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