Sir, – Is there anything so tiring as French and German sanctimony ganging up on those perceived to be of inferior quality?
Thomas Klau (Opinion, August 13th) endorses the opinion of former ECB economist Otmar Issing, who is obsessed by punishing the spendthrift and rewarding the prudent (Opinion, August 12th). I recommend they reflect instead on the lendthrift. At the start of this century, money standing idle in French and German banks was imprudently gambled without sufficient due diligence leading to the credit bubble in peripheral countries. The moral apostles need to look in the mirror. Ireland has taken/is taking responsibility for its own part in its downfall. – Yours, etc,