Letters: Europe's fiscal fissures

With reference to the report “Sarkozy, Draghi winners” (December 11), the recent Euro agreement is built around Germany’s demand for legal commitments on fiscal and financial discipline. A pact that binds all members to more austerity at a time of recession is exactly what Europe does not need right now. This agreement is seen merely to address politically-sensitive issues like debt, but does nothing to stimulate or support growth. If Germany were willing to do its own bit by buying more from its weaker neighbours and stopped insisting on austerity, that would really be the historic solution to the euro-zone crisis.

 

R Narayanan, Ghaziabad