Sir,
The first paragraph of Guido Westerwelle’s article (“Germany is not for turning on how to save the euro”, November 18) concludes that “despite the EU’s most strenuous efforts, it has not yet won back the confidence of financial markets”. This one sentence is very revealing, for nowhere in the German foreign minister’s analysis of the crisis is there any reference to the people.
Placing the interests of the markets above those of the people is how we got into this mess. Repeating this pattern as the solution to the crisis is doomed to failure and is an insult to the notion of democracy as “rule of the people”.
John Slinger
The first paragraph of Guido Westerwelle’s article (“Germany is not for turning on how to save the euro”, November 18) concludes that “despite the EU’s most strenuous efforts, it has not yet won back the confidence of financial markets”. This one sentence is very revealing, for nowhere in the German foreign minister’s analysis of the crisis is there any reference to the people.
Placing the interests of the markets above those of the people is how we got into this mess. Repeating this pattern as the solution to the crisis is doomed to failure and is an insult to the notion of democracy as “rule of the people”.
John Slinger
You can read the letter in the Financial Times here (£).
The markets are the people John - that's their beauty. More to the point, if the markets are falling, that has consequences for us all (i.e. people)- whether you're drawing a pension or investing for the future.
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