Sir, – I believe Tracey O’Dwyer is right about Germany’s efficiency (December 21st). But was its financial regulatory system remiss in permitting its financial institutions to lend billions of euros to Irish and other European banks, which in turn lent this money into ballooning property markets?
To me everything makes sense if the German strategy is to get the peripheral states into so much debt that they lose their economic independence. They can therefore be forced through economic circumstances into a federal Europe.
This scenario suggests a German efficiency which plans well into the future, and which is now playing a game of brinkmanship so as to achieve its objectives, irrespective of the potential damage to the European, and perhaps the world’s economy. – Yours, etc,