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Mr Rehn needs to get to work on a plan B

"There is no plan B" to rescue Greece according to Mr Olli Rehn; or, one must deduce, to save any of the other delinquent borrowers within the euro. There had better be, because the plan 'A' being implemented at the moment is gravely flawed and can only end in failure.

Plan A is based on false assumptions. It treats the present crisis as a recession comparable to those of previous centuries, which has been aggravated by financial mismanagement and will be corrected by fiscal austerity and the panacea of recovery from all previous recessions,

The world has changed; but Mr Rehn and his associates do not acknowledge the change.

Ironically that change has the potential for a much better world; not the hell hole of desperation and hopelessness plan A is delivering to so many. Plan B would recognise the world for what it is: a world of enormous production potential without need for a whole lot of human labour. People would work a lot less without any loss of income or living standard, a difficult concept at first glance.

But why not? The potential to create wealth has never been so great; the big difference is, it is produced with much less labour. Created wealth was always the source of all incomes.

So Mr Rehn, if you wish to save Greece, if you wish to save us, if you wish to save the EU and the euro, please get to work on plan B.

Padraic Neary
Tubbercurry, Co Sligo


Irish Independent