Sir, – Throughout the crisis, many eminent economists informed us that the maximum sustainable debt/GDP ratio was around 120 per cent, approximately the level that Ireland’s peaked at a year ago. Greek debt/GDP currently stands at 175 per cent. This debt is clearly unsustainable. If European decision-makers can put aside their tut-tutting and hubris for a moment, they will see that there are only three options open to Greece – debt write-down, debt restructuring or a Greek exit from the euro zone. – Yours, etc,
JOHN BELLEW,
Dunleer,
Co Louth.
