Letters: No more reprieves for the euro

 

Share

To criticise George Soros for stating the obvious, as The Independent did (leading article, 5 June), is absurd, and it really is clutching at straws to suppose the referendum result in Ireland, the mood music of Mr Hollande and the "hint" of greater German flexibility will make any difference.

The euro is a federal currency but without a federal government or federal financial institutions. It was bound sooner or later to encounter problems, particularly as even French and German politicians ignored its budget rules when it suited them, and turned a blind eye to the economic position of Greece when it was admitted to the euro under a fraudulent prospectus. There was no way the euro could withstand an international banking crisis coupled with the growing economic dominance of Far Eastern economies.

The euro part of Europe has now to choose from five difficult options: implement a federal and fiscal union; prevail on Germany to underwrite debtor countries; abandon the euro; restrict the euro to countries with similar economic profiles such as those of northern Europe; or persuade Germany to leave the euro.

What other choices are there? To suggest it only needs "greater flexibility from Germany" is whistling in the dark. With different currencies, Greece or Spain could have devalued. Now they can't. That is the nub of the problem: there is no mechanism for devaluation between countries sharing the same currency. Even if Greece votes for pro-austerity parties that inherent problem remains.

Either the European politicians must agree quickly on policies they find distasteful or the markets will decide for them.

Peter Moyes

Brightlingsea, Essex

What's this I read? "With the credit default swap rate on five-year Spanish debt hitting a record high..." ("Spain told to get a grip of bank crisis as bailout looms large", 1 June.)

I can't believe my eyes. The "credit default swap rate"? That's simply a gambling indicator, just as William Hill might give you odds on this or that horse winning the Grand National. And what makes it worse is that those holding these gambling chits have an inherent incentive for wanting Spain to go down the tubes. It is then that they will cash in – and the rest of us will have to cough up in order to save both the banks and, this time round, governments too.

What I can't understand is why these and other corrosive financial products still exist. It has been almost four years since the financial world almost blew up in our faces, and we recognised that such products played a major part in the crisis. So why haven't governments (and the EU in Brussels and the IMF in Washington) legislated against them? What have the regulators been doing for the past four years?

Regulating authorities could be excused for not seeing the original crisis coming. But this time round we all know the score, so why have they been sitting on their hands for so long? The answer must surely be that it is not the regulatory authorities that are in control but rather the speculators. This is an unparalleled case of poachers, rather than gamekeepers, running the show.

Alan Mitcham

Cologne, Germany

Scotland leads the way in cutting the harm of drink

The British Society of Gastroenterology is delighted that the Alcohol (Minimum Pricing) Bill has been passed by Scottish Parliament. This is a tremendous day for those in the healthcare professions who have long fought for minimum unit pricing as one of the fairest and most targeted ways of addressing alcohol-related harm.

We congratulate the Scottish Government. The 50p minimum unit price they have adopted will impact on the heaviest drinkers and those who drink underage, and those who have a binge-drink behaviour, thus saving thousands of lives and improving the overall health of the nation.

It is now important that the Government in Westminster follows Scotland's excellent example and pushes forward with its own plans for minimum unit pricing in England, and has the courage to set the minimum price at 50p rather than the suggested 40p. As well as preventing cross-border trafficking, the health benefits of a minimum 50p are clear. Modelling by the University of Sheffield has shown that it could lead to a 6.7 per cent decrease in alcohol consumption, rather than 2.4 per cent decrease for the 40p level, in turn reducing hospital admissions by about 20,000 in the first year.

The problem of alcohol-related harm has been growing in the UK since 1980 and as clinicians we see the terrible impact that excess alcohol has on our patients and their families. We hope the decisive action taken in Scotland to deal with this devastating problem is replicated across the UK.

Professor Jon Rhodes

Sir Ian Gilmore

Professor Chris Hawkey

Professor Andrew Burroughs

Dr Nick Sheron

British Society of Gastroenterology, London NW1

First it was the French paradox, which suggested that French people lived longer because they drank more wine. Then came the Copenhagen study, which found that people drinking three to five glasses of wine a day had only 51 per cent of the risk of dying prematurely experienced by people who drank no wine at all.

As recently as last year, you reported that the Government were thinking of raising the "safe drinking limits" recommended to the public to bring the UK more into line with countries such as France and Italy.

But now (31 May) you report that "Cutting average daily intake to the equivalent of a half a small glass of wine would prevent almost 4,600 premature deaths a year in England alone, according to a study carried out by University College London."

How could so many people have got it so wrong for so long? And why are the French still living longer than we are?

David Hewitt

London N1

Comprehensives really can work

 

In the current grammar school debate I can only state that my children received a broader, deeper education at their comprehensive school than I did at my well-regarded grammar school. Both went on to high-ranking universities.

Looking back on my primary education I often wonder what happened to the children who either weren't allowed to take the 11-plus or failed it, and how much they could have benefited from a truly comprehensive education.

If more parents supported their child's school and inculcated a desire for learning in their children that would see a greater rise in the standards of education than any of the half-baked schemes dreamt up by our political leaders.

Dafydd Thomas

Bude, Cornwall

If the Labour Party is looking for a radical alternative to secondary education and to resolve the argument about grammar schools, they might consider putting a terminal examination at 14 instead of 16 and then streaming pupils into academic or vocational courses.

As a secondary head, I always felt that the most academic pupils needed a four-year course leading to university entrance uninterrupted by GCSE. This would enable the A-level to be taken in April of the final year and so provide results before application to university. Vocational courses could themselves vary from part academic to purely skills-based, allowing some to cross the divide easily.

Separate schools after 14 would still be divisive. The fundamental problem of parents and society seeing the academic as "superior" to the vocational would still have to be tackled, but I think it would be easier where there is a clear career objective. I think most pupils and parents would eagerly embrace the vocational courses.

Anthony D Wood

Liskeard, Cornwall

Beginning of a historic TV show

I was pleased that your reporter called Seven Up! "the most remarkable documentary series in television history" (28 April). It is gratifying for me as the original creator and director that this film served the purpose for which I conceived it: documenting the lives of children, and thereby pointing up some of the class differences, which Australian Tim Hewatt, then head of World in Action, and I, as a Canadian, found in the England of 1963. But several misstatements in your article regarding Michael Apted's role in the first film in the series need to be addressed.

Your reporter says that Mr Apted "only wishes he had taken a more female-friendly approach when going about the project". But he had no role in "going about the project" other than, as stated later, being a first-time researcher. I chose children for the film. And for the record, I did in fact feature girls in quite a few scenes.

"Apted had originally found his 14 children in three weeks." Gordon McDougall (whose name was unfortunately excised from the credits after I left England) was a researcher on an equal footing with Mr Apted. They both found children for me to make my selection.

But I do I think it's wonderful that Mr Apted has done these follow-up films so that we can see what's happened over the years.

Paul Almond

Shigawake, Quebec, Canada

The Queen is safer

Kevin Ellard suggests selecting a president by eliminating all politicians from any ballot (letter, 6 June). His raising the possibility of "President Attenborough" will not frighten many, but has he considered to possibility of "President Clarkson"? I remain pro-monarchy.

Martin Ham

Malvern, Worcestershire

Olympic charade

Like Elizabeth Oakley (letter, 7 June), I am intrigued to know how the LSO will manage to mime successfully at the Olympic opening ceremony. I will be keeping a close eye on the timpani, who will have to perform miracles to play silently and convincingly. I wish them luck, but it is hard to see how their peerless reputation will not be severely damaged by this inane charade.

Anthony Bridgewater

West Wittering, West Sussex

Osborne's bonds

The Chancellor hopes to persuade savers to invest in government growth bonds. Your report (6 June) noted the bonds would be used to fund major government infrastructure projects such as toll roads, green energy and house-building. No reference was made to high-speed rail, which must be the biggest such project of all. Surely this is not to suggest that HS2 might not actually be a sound investment?

Marilyn Fletcher

Great Missenden, Buckinghamshire

Prescient?

If Sam Akaki (letter, 4 June) is correct that Enoch Powell's "Rivers of Blood" speech of 1968 was in response to the arrival of the Ugandan Asians in this country, expelled by the dictator Idi Amin, then Mr Powell was far better at predicting the future than his detractors would have us believe. Amin came to power in 1971.

Frank Kirkham

Chippenham, Wiltshire

Bore for England

Dull in Perthshire would like to link up with the US town of Boring (report, 6 June). The Norfolk villages of Little Snoring and Great Snoring would complete an illustrious quartet.

Ivor Yeloff

Norwich

Rise to the issue

To answer John Krispinussen (letter, 6 June), there are indeed a few problems left other than "issues". They are called "challenges".

Beverley Southgate

London NW3

React Now

  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
iJobs Job Widget
iJobs General

Recruitment Genius: Senior Digital Marketing Consultant

£28000 - £45000 per annum: Recruitment Genius: A Senior Digital Marketing Cons...

Recruitment Genius: Assistant Stores Keeper

£16640 - £18500 per annum: Recruitment Genius: An Assistant Stores Keeper is r...

Recruitment Genius: Claims Administrator

£16000 - £18500 per annum: Recruitment Genius: This is an excellent opportunit...

Recruitment Genius: Software Developer - C# / ASP.NET / SQL

£17000 - £30000 per annum: Recruitment Genius: Developer required to join a bu...

Day In a Page

Read Next
 

General Election 2015: The SNP and an SMC (Salmond-Murdoch Conspiracy)

Matthew Norman
A voter placing a ballot paper in the box at a polling station  

General Election 2015: Despite all the seeming cynicism, our political system works

Ian Birrell
'It was first time I had ever tasted chocolate. I kept a piece, and when Amsterdam was liberated, I gave it to the first Allied soldier I saw'

Bread from heaven

Dutch survivors thank RAF for World War II drop that saved millions
Britain will be 'run for the wealthy and powerful' if Tories retain power - Labour

How 'the Axe' helped Labour

UK will be 'run for the wealthy and powerful' if Tories retain power
Rare and exclusive video shows the horrific price paid by activists for challenging the rule of jihadist extremists in Syria

The price to be paid for challenging the rule of extremists

A revolution now 'consuming its own children'
Welcome to the world of Megagames

Welcome to the world of Megagames

300 players take part in Watch the Skies! board game in London
'Nymphomaniac' actress reveals what it was really like to star in one of the most explicit films ever

Charlotte Gainsbourg on 'Nymphomaniac'

Starring in one of the most explicit films ever
Robert Fisk in Abu Dhabi: The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers

Robert Fisk in Abu Dhabi

The Emirates' out-of-sight migrant workers helping to build the dream projects of its rulers
Vince Cable interview: Charging fees for employment tribunals was 'a very bad move'

Vince Cable exclusive interview

Charging fees for employment tribunals was 'a very bad move'
Iwan Rheon interview: Game of Thrones star returns to his Welsh roots to record debut album

Iwan Rheon is returning to his Welsh roots

Rheon is best known for his role as the Bastard of Bolton. It's gruelling playing a sadistic torturer, he tells Craig McLean, but it hasn't stopped him recording an album of Welsh psychedelia
Russell Brand's interview with Ed Miliband has got everyone talking about The Trews

Everyone is talking about The Trews

Russell Brand's 'true news' videos attract millions of viewers. But today's 'Milibrand' interview introduced his resolutely amateurish style to a whole new crowd
Morne Hardenberg interview: Cameraman for BBC's upcoming show Shark on filming the ocean's most dangerous predator

It's time for my close-up

Meet the man who films great whites for a living
Increasing numbers of homeless people in America keep their mobile phones on the streets

Homeless people keep mobile phones

A homeless person with a smartphone is a common sight in the US. And that's creating a network where the 'hobo' community can share information - and fight stigma - like never before
'Queer saint' Peter Watson left his mark on British culture by bankrolling artworld giants

'Queer saint' who bankrolled artworld giants

British culture owes a huge debt to Peter Watson, says Michael Prodger
Pushkin Prizes: Unusual exchange programme aims to bring countries together through culture

Pushkin Prizes brings countries together

Ten Scottish schoolchildren and their Russian peers attended a creative writing workshop in the Highlands this week
14 best kids' hoodies

14 best kids' hoodies

Don't get caught out by that wind on the beach. Zip them up in a lightweight top to see them through summer to autumn
Robert Fisk in Abu Dhabi: The acceptable face of the Emirates

The acceptable face of the Emirates

Has Abu Dhabi found a way to blend petrodollars with principles, asks Robert Fisk