Sir, – Allow me to add my voice to your letter writers (February 24th) lauding those clever, good-looking and irrepressibly happy people that are the Danes and draw your attention to their management of currency affairs.
They have succeeded in having their cake and eating it regarding their association with the euro. They do not use the currency but have pegged their kroner to it since its inception and thus can decouple at any time that suits them to devalue.
Further, the usual penalty associated with such action – the increase in kroner value of foreign currency-denominated debt – will not apply as some years ago they cleared all such and anything owed is owed in kroner. Financial independence.
In an effort to kept correspondence short, as requested, I leave it to others to comment on their possession of 20 per cent of the EU fishing quotas, their ability to beat us on the football pitch when it really matters, and their other fine qualities. – Yours, etc,