Letters of the Week

Finding balance in Europe’s crisis. Buying bonds. Energy rebates.

Welcome, Adam Carr
Congratulations to Adam Carr on his 'maiden’ writing effort (Europe’s untold riches). Thank you for injecting a note of pragmatism into a hysteria-driven European story. I agree entirely that concentration on debt is irrelevant unless this is coupled with an appreciation of "capacity to service" that debt. Your analysis of the financial assets available in Europe to pay down debt provides a more balanced overview of the real picture in Europe and its likely economic trajectory in the medium future. Just one word of caution, however – war chests of financial assets do not necessarily equate to free-moving cash flows and this is what is really needed to revive growth in these economies, as well as pay down debt.

– Name withheld

Buying bonds

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