In a New Year speech tonight, ALDE group leader Guy Verhofstadt will outline his principle fears for the Euro and the EU if determined action is not taken by EU leaders, especially Chancellor Merkel and President Sarkozy who are undermining the authority and role of the EU institutions by their prevarications and pursuit of intergovernmental solutions to the euro crisis.

He also warns against the dangers of letting Victor Orban get away with changes to the law which undermine the basic democratic institutions of the State and freedom of the press. He will justify his call for use of article 7 of the Treaty.

2012 represents a make or break year for the EU. All pro-European parties should unite in a common endeavour to rescue the project of the founding fathers.

See attached full speech.

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