RAPID responses

Cheapened money

[Re: Why QE is not the answer to Britain’s economic problems, Friday]
Quantitative easing is a disaster. Milton Friedman wouldn’t have supported this further injection if he were still alive, and he’d be right – as he was about most things. He predicted the euro would have about a 10 year lifespan. It seems he was pretty spot on about that too. Though I don’t blame the euro so much as its poor management, as governments have pandered to the whims of their citizens.

Steve Okare

This article is correct. Debasing our currency will inevitably result in long-term damage to our economy.

Hugh Harris


Financial pain

QE is like financial morphine. Imagine a patient post-operation: there is only so much morphine the body can take to dull the pain. If you have too much, it can harm or even kill you. It will only last for a while, and then you just have to get on with recovery and live with the pain.

Chris Staerck

[Re: The fall of Bob Diamond: How tragedy can stalk even the most powerful, Friday]
Crowing at the resignation of Bob Diamond is just another instance of popular glee whenever anyone successful falls from a great height. And Marc Sidwell is right to say it’s a tragedy – through their hard work, these men and women enrich all our lives.

Tim Walker


There is no such thing as cheap money. Everything has a value that must be paid sooner or later.

Blaming Ed Balls for Libor because he was City minister is like blaming the transport minister for every car crash.

I can’t understand the calls for a judge-led inquiry into Barcays, considering the waste of time and money Leveson has become.

Hollande is more grounded in reality than Labour. He admits that “national debt is the enemy of the left.”