Beware of superstitions

WE all understand we don't walk down dark alleys unless we must; those who wear stiletto heels don't walk on paving joints; and long ago the Trojans were happy to accept the wooden horse gifted from the Greeks. Oh yes, it's all a learning experience!

The International Monetary Fund has warned Europe in a brief note that it must create what is essentially a fiscal union and forgive the Greek debt if the euro is to be saved.

This means taking one of three routes, but all amount to the same thing - all the rich European countries of the euro zone must contribute to support Greece who would have its debt written off.