Madam, – Despite having a national debt heading for 100 per cent of GNP, an endemic current deficit and a failing banking system, I read that we are the second richest country in the 27- member European Union (Finance, September 17th).
On the same day I also read in your Letters page that we are thinking of reneging on our commitment to contribute to 0.7 per cent of our GNP to the poorest countries in the world by 2015.
Before the EU bond market interest rates drive us over the precipice, we must invite in the IMF and ECB to do the task our elected Government has consistently failed to do. The longer we leave it the nastier the medicine will be, to the detriment of poor countries as well as ourselves. – Yours, etc,