Sir, – Martin Wolf argues persuasively that debt relief for Greece is in the best long-term interest of all countries in the euro zone ("Greek debt and a default of statesmanship", January 28th). In challenging the "self-righteous nonsense" of those who oppose such relief, he also points out that their alternatives would allow "the euro zone to avoid confronting the moral case for debt relief for other crisis-hit countries, notably Ireland". It is clear from this that now is the time for our Government to step up to the plate and support the Greek call for debt relief – it is in our own best interest and for the greater good.
Denis Staunton recently made a comprehensive argument proposing that we should support the Greek plan to write down euro debt ( "Why Ireland should support Greek plan to write down euro-zone public debt" January 10th).
In his 2011 report on the banking crisis Klaus Regling identified “groupthink” as one of the key causes; now we are faced with a vital decision which could have major implications for our country’s future wellbeing and the same “groupthink” is manifesting itself among our politicians and financial decision-makers.
What is needed as a matter of urgency is a public discussion on whether Ireland should support the Greek call for debt relief. I believe a discussion on the proposal at the Joint Oireachtas Committee on Finance, Public Expenditure and Reform would be useful. If the proposal is rejected by the Government then I believe Michael Noonan should state the reasons why in a clear and comprehensive manner. – Yours, etc,
CATHAL KERRIGAN,
Cork.