Solving the Greek debt crisis
Sir, – Will Greece survive until August 8th? If so, it will be 62 years since the 1953 London Agreement. Creditor nations cut German debt in half, extended the other half to 30 years, and limited repayments to 3 per cent of GDP. Germany’s “economic miracle” followed. The last German repayment was in 2012.
Ten of the creditor nations, many plundered by Germany in the second World War, are now in the EU.
One of these was Greece. Have Frau Merkel and Herr Schaüble forgotten? The Greeks haven’t. – Yours, etc,
Sir, – The European Union was initially developed, under Jean Monnet, in the aftermath of the devastating conflicts of the 20th century as an integration paradigm by which the major European powers could prevent internal warfare while also advancing broader world peace and cooperation as a stabilising force on the world stage.
This increasingly adversarial stance between member states, their politicians and European Union institutions suggests that this overarching principle and function may have been forgotten, sacrificed on the altars of important – but not necessarily life-threatening – considerations of economics, international finance and fiscal policy.
As long as the European Union continues to prevent internal conflict between member states, the concept has been a success.
Conversely, policies, principles, politicians and practices that threaten this still-fragile cooperation – even if in pursuit of the most noble economic ideals – must be subordinated, and, where necessary, removed.
– Yours, etc,
Institute for Global Health
Delivery & Diplomacy
University of California,
Sir,- Mr Kenny is right, Mr Tsipras should follow the Irish example. Put the place in the wife’s name. – Yours, etc,