A time for calm and focused solidarity

UNCERTAINTY has shaken share values right across the world, confirming that the agreement reached by European leaders just over two weeks ago was not on the scale needed to stop the crisis generated by eurozone debt.

President Obama’s 11th-hour deal to extend American debt limits added to the downward momentum.

EU leaders focused on Greece but they did not expect the Italian and Spanish economies to become an unavoidable issue so very soon.

All through the three years of economic crisis, we imagined we had reached defining moments, one after the other, but it does really seem we are at that point now. Some very credible commentators have warned that we are at the opening stages of the endgame for the euro.

Let us hope that this crisis shows again that the alternative to a strongly united Europe is not an option — economically, politically or socially.

Let us hope this crisis brings the values of co-operation and support to the fore and that the great achievements of a united Europe, at peace with itself, can continue for generations to come.