Sir, – Isn’t it time to add a new word to the English language – “Gratigue”? With regard to the Greek crisis, I think that there have been enough talks, deadlines, dramas and brinkmanship. Enough is enough. Let them leave. – Yours, etc,
SEAN O’SULLIVAN,
Crossabeg, Co Wexford.
Sir, – May I express my disgust and shame at the self-righteous posturing of the Government in their attitude to the attempts by Greece to deal with the austerity demands being imposed on them by the EU, including us.
Surely we should take a more sympathetic approach – if only to protect ourselves from the disastrous fallout we can expect if the Greeks have to leave the euro zone and the EU. – Yours, etc,
DES CURLEY,
Boyle, Co Roscommon.
Sir, – Time and time again all we hear is Greece must pay “its” €357 billion debts but that debt is never broken down. How much of it relates to the cost of running the Greek state and providing the public sector and how much relates to the cost of keeping the euro banking system running? What other private sector industry could have its “debts” added to the national debt in the way the banks have succeeded in doing?
The Greek state has cut back its costs so much that it is on target to have a primary surplus, meaning the cost of running Greece matches the amount of tax revenue it generates.
Everyone knows the current policy of austerity is hypocritical and dishonest but even worse, that it makes no sense economically or politically. So we are left with the human nature aspect of the problem that the leaders of the EU who created this mess are incapable of fixing it, because to fix it means they would have to admit they have been wrong for the last eight years.
And as we in Ireland certainly know to our cost, politicians would rather go to hell in a handcart and bring us all with them than admit that they are wrong.
The issue now is just how much damage is the EU leadership prepared to do to the European project before they face reality and take the action that should have been taken back in 2008 and separate the debt countries incurred to run the state from the debt they were forced to take on to prop up their banks.
The state-related debt can be repaid and the bank-related debt must be moved off euro zone member states’ balance sheets into a euro bond system. – Yours, etc,
DESMOND FitzGERALD,
Canary Wharf,
London.