Sir, - India has been hit by the most appalling natural disaster. Over 100,000 people are said to have perished and the country's finance minister is seeking a $1.5 billion loan from the World Bank and the Asian Development Bank. Surely, at this terrible time, the world can do better for India.
Every day, $1.5 billion dollars are gambled on the currency markets. Just a small levy of 0.1 per cent on this global, untaxed casino would fulfil India's request without imposing a crippling debt on this already stricken country.
As you have pointed out, immediate help is pouring into India from many countries. But there will also be long-term needs and surely the big financial institutions which are the main actors in the currency markets can also show some generosity? - Yours, etc.,
Claudine Gaidoni, Ailesbury Grove, Dundrum, Dublin 16.