Sir, – Winston Churchill famously noted the US eventually did the right thing, but only after it had tried all the alternatives. It seems the same can be said of the current crop of European leaders.
Since the outset of the European debt crisis, columnists, opinion writers, historians, economists, pundits, drinkers, golfers, hairdressers, taxi drivers and citizens of all shapes and sizes have said that the so-called bailouts for Greece, Portugal, and Ireland were too expensive, too burdensome and simply would not work.
Why is it that our statesmen were the last to figure this out?
The interest rate on the loans has now been reduced and the maturation dates have been extended. But this has only arisen after Europe was brought to the brink of the abyss. Why are we governed by people with such limited vision and who pay such little attention to common sense, numbers and their views of their own people? – Yours, etc,