William Dartmouth, a Ukip MEP, launched the tirade at his European counterparts as they bid to refinance debt-ravaged Greece's loans while keeping the nation locked in the eurozone.
Greece's situation has reached boiling point after figures revealed its economy shrank another 0.4 per cent in the final quarter of last year.
The flopped economy has left Athen's creditors, the International Monetary Fund (IMF) and European Commission (EC), at odds over measures to cure Greece's devastated economy in the next stage of the country's bailout.
Taking aim at the nation's financiers in the European Parliament, Mr Dartmouth claimed his colleagues were heaping more misery on Greeks by keeping them trapped in the European Union's single currency.
William Dartmouth slammed the European Parliament over their handling of the Greece debt crisis
Whatever the austerity imposed on Greece it's never going to be permitted to leave the eurozone
The Ukip MEP compared their situation to 'Hotel California' by the Eagles, where they sing, "You can check out any time you like, but you can never leave".
"The eurozone is rather like that," he said. "Whatever the pain, anguish, hardships and austerity imposed on the Greek people, Greece is never going to be permitted to leave the eurozone.
"The inconvenient truth is Greece wholly unable to pay its debts, whatever the IMF may or may not say, whatever the posturing of the Commission or the Council, Greece cannot pay its debts.
"What should happen is the lenders must admit and accept is the money they have lent to Greece simply will not be paid back."
In defence of his fellow countrymen, Greek prime minister Pierre Moscovici said he was open to discussing alternative policy reforms to repay the debt but ruled out imposing further austerity measures.
The IMF responded, claiming they would not sign up to the programme if debt reduction plans are not credible.
However, eurozone members, led by Germany, are refusing to cancel debts. German finance minister Wolfgang Schaeuble recently warned Greece would have to leave the single currency if it wants its debts eroded.
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Continuing the onslaught against Greece's European financiers, Mr Dartmouth insisted there was no hope Greek officials would be allowed to take their country out of the eurozone.
Greek debt crisis
Wed, July 15, 2015
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"The game with the loan negotiations was to quote, 'Extend and pretend,' he said.
"That is to say the loans were extended, but the pretend was the pretence they could never be paid back.
"Greece has defaulted on its debt at least seven times since it became an independent country. When lenders lend to Greece, they cannot expect their loans to be bailed out as of right.
"I am now saying to the Commission, Mr [Jean-Claude] Juncker, Mr [Guy] Verhofstadt and his groupies – and there are all too many in this parliament – to restate William Jenning Bryan's famous Cross of Gold speech, 'You shall not press down upon the Greek peoples' crown of thorns, you shall not crucify them on the cross of the euro.'"