Reformed euro

Allan Massie (Perspective, 9 May) predicts that the euro could lumber on with missed austerity targets, negative growth and economic stagnation, but whether it should survive is another matter.

The eurozone is certainly no more immutable than any of the marriages I conducted, and as for a break-up being illegal, the EU simply makes up the “law” as it goes along.

The fear is that attempts to save it may destroy the banking system and undermine the concept of the Union, and the UK should start to diversify away from this shambles.

A more positive outcome for the weaker countries would be to revive their national currencies in a “fixed but flexible” exchange system similar to that of Bretton Woods.

A reformed euro could be their secondary currency or even their de facto currency if the Bundesbank ran their monetary policy as the Bank of England did for the sterling area.

(Dr) John Cameron

Howard Place

St Andrews