Debt forgiveness must be part of the healing process

Ireland should have sympathy for the Greeks and not be supporting Merkel in her zeal to punish Athens

5th July, 2015
Pensioners gather outside a branch of the National Bank of Greece on Wednesday in Athens Picture: Getty

It is difficult to overestimate the seriousness of the Greek crisis, not just for Greece, but for Ireland too. Let us be very clear, the choice being presented is between amputation or recuperation.

The German plan, which is what the rest of the eurozone governments are supporting, sometimes gleefully, is to kick Greece out of the euro if it defaults. This is the amputation solution.

The other choice is the recuperation approach favoured by the...

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