LETTER: In praise of Alan Greenspan

ALAN Greenspan was at one time the world’s most powerful economist.

He did not always forecast his theories correctly, but nine times out of 10 he was correct.

Mr Greenspan has recently given his thoughts on the euro, and the present position it holds in the world’s economy.

He forecasts it is doomed to fail.

If that prediction becomes fact it will cost Europe dearly.

The consequences will affect Britain’s economy as well, yet set the world’s economy free, according to Mr Greenspan.

George Osborne, Britain’s Chancellor, stated that an early referendum on our EU membership would be forthcoming if these circumstances came about.

And rightly so.

An early Greek exit from the EU would also cause the same predicament in British, resulting in an emphatic cry from the general public of “out of the EU”, as the death throes of the euro began to cause panic in all quarters of the world’s economy.

Mr Greenspan has been proved wrong before once or twice.

But our Prime Minister, David Cameron, is said to be taking measures in case Mr Greenspan is correct in his assumptions.

What does that indicate to the British public in the run-up to the coming General Election?

Greece could exit the EU in the remaining days before the May date-line for the public to go to the polls.

Fred Gibson,

Masefield Road,

Hartlepool.