Sir, – The emperor has no clothes. The sooner leaders in Europe admit it the better. The euro is not only broken but in danger of breaking the fragile co-operation we call peace.
You cannot let some debtors off the hook while others are pursued for the last cent. Injustice never led to lasting peace. Let us pray that European leaders have the humility, the honesty and the courage to do what is morally right and economically fairest, not what is merely in the interests of politicians and banks saving face or balance sheets. If it means dismantling the euro and massive debt forgiveness or swaps of debt for equity, so be it. The world will not end as a result. But Europe may be a better, fairer place, with at least a few clothes on. – Yours, etc,