Euro rescue deal - Patience and explanation are needed

WE ARE being asked to take a leap of faith that many of us will find very difficult. Some will argue — loudly and persistently — that it is so unwise and unfair as to be preposterous.

We, and our Government, are being asked to look on as Greece’s creditors — private banks and insurers like ours — accept a 50% loss on their loans. We, no matter what impact it has on this society, continue to repay in full the debts incurred by rogue bankers driven by feral greed unhindered by any notion of social morality.

The figures involved, as we all know to our cost, are staggering and have the capacity to redefine this society and its capabilities for generations to come.