While Brexit is only in the Limbo circle, Martin Wolf seems already convinced that all ye who entered there should shed all illusion and abandon all hope.

Sir, again Martin Wolf writes as if being convinced there’s no life, at least no good life for Britain, after Brexit. “Britain has more illusions to shed on Brexit” December 15.

Why? Of course Brexit is challenging, but not only for Britain. I have always thought of Britain as glue that helps holds the European Union together, so I am sure Brexit must be very challenging to EU too.

What should be done? I would just go for it! Massive government tweeting: “Brexit is not about Britain not wanting to have anything to do with Europe. It has all to do with Britain not being comfortable with the decisions of the EU technocracy.”

And then tweet: If Britain is willing to pay such a large fine for being able to get out of the EU club, should you, as members of that same club not be concerned with that?

And incite the Europeans to take the Brexit opportunity for together with Britain redefining a better Europe.

Sir, I argue this as I am convinced that if you’ve already mentally surrendered, and think you must accept any conditions offered by a Neo-Versailles treaty, then you are really lost. And for many reasons I do not like that to happen to Britain.

Or as Violet Crawley would say, don't be so defeatist, it’s so middle class. 

Okay, I might have gone bonkers on this (too), but let me assure you that Martin Wolf is no Winston Churchill either.

PS. Freshening up on Dante’s “Inferno” I read that some sinners endure lesser torments than do “those consigned for committing acts of violence and fraud”. The latter, according to Dorothy L. Sayers’ translation, were guilty of "abuse of the specifically human faculty of reason". Oops, could that include bank regulators who require banks to hold more capital against what is perceived risky, when in fact it is when something perceived safe ends up being risky, that we all most need our banks to hold that?

Sorry, just asking, I have no intention of wanting to send for instance Mario Draghi to hell. Parading him down our main avenues wearing a dunce cap would suffice.

@PerKurowski

Pablo Iglesia’s offer of a 35-hour workweek and a retirement age of 60 in Spain, sounds more like a “No se podrá”

Sir, I have surprised read Tobias Buck reporting that Pablo Iglesias, of Podemos (we can), suggests “a 35-hour work week and lowering the retirement age to 60”, “Spanish upstart party challenges status quo”, November 22.

Sincerely, in a so job starved Spain, that sounds to me much more like a giving up, like lets share the leftovers, like a defeatist “No-Podemos”.

If that is what Spain wants, then Spain is truly in big trouble.

I hope Spain understands that speaking engagingly, emotionally and with great empathy of the problems of a nation, has absolutely nothing to do with the capacity of solving those problems, on the contrary, these are often worsened by experts in verbal populism. (See: Venezuela)

If I was a Spaniard, and a bit similar to Churchill’s “Blood, sweat and tears”, I would now be arguing: “We can (nosotros podemos) and must get out of this sorry mess, and make Spain great again, even if that takes a 60 hours working week and forces us to work until we’re 100”.

PS. When an Executive Director of the World Bank, 2002-2004, it was a great honor for me to be sitting in the chair which represented, among others, Spain and Venezuela.

La oferta de Pablo Iglesias de 35 horas de semana laboral y 60 años para la jubilación, me suena más a un ¡No Podemos¡ 

Señor Editor, sorprendido leí a Tobias Buck informando que Pablo Iglesias, de Podemos, sugiere "una semana laboral de 35 horas y la reducción de la edad de jubilación a los 60", "partido advenedizo español desafía status quo", 22 de noviembre. 

Sinceramente, en una España tan  hambrienta de empleos, eso me suena mucho más como un abandono, como a un vayamos a compartir las migajas sobrantes, como a un derrotista "¡No-Podemos!". 

Si eso es lo que España quiere, entonces España esta realmente en serios problemas. 

Espero que España entiende que el poder cautivar hablando con gran empatía de los problemas de una nación, no tiene absolutamente nada que ver con la capacidad de resolver tales problemas, por el contrario, éstos son a menudo agravados por los expertos en populismo verbal. (Ver: Venezuela) 

Si yo fuese español, y algo similar a lo de "sangre, sudor y lágrimas" de Churchill, yo estaría ahora argumentando: "Nosotros sí podemos y tenemos que salir de nuestra triste situación, y hacer de España de nuevo grande y fuerte, incluso si esto nos obliga trabajar 60 horas por semana hasta los 100 años". 

PD. Cuando fui un Director Ejecutivo del Banco Mundial, 2002-2004, fue un gran honor para mi estar sentado en la silla que representaba, entre otros, a España y a Venezuela. 

http://bombaaaa.blogspot.ca

Margaret Thatcher, if explained the capital requirements for banks based on perceived risk would ask “Are you nuts? Accept defeat?

Sir, I have read many obituaries of Margaret Thatcher that attributes to her much of the bank de-regulations they blame for the current crisis.

I do not hold to know the whole story but, let me assure you that if someone would have asked her about the possibility of, by means of bank regulations, allowing the banks to earn immensely higher risk-adjusted returns on their equity, by sticking to financing solely “The Infallible” and keeping away from “The Risky”, the Iron Lady would most certainly have asked “Are you nuts? That sounds like a defeat and I do not recognize the meaning of that word" 

And if also told that the most infallible of “The Infallible” was to be the government, and that therefore banks could lend to it without any capital at all, leveraging without limits, she would also most certainly have asked “Are you a communist?

Defeatism you can really write home about

Sir, Chris Giles, in “Why Sir Mervyn has taken a walk on the supply side” January 24, considers going for more “supply side” economics and abandoning “demand side” stimulus as something “too defeatist. Frankly, he has no idea of what real defeatism is. 

Mark Twain said “A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain”. The capital requirements for banks based on perceived risk imposed by the Basel Committee's bank regulators only makes real sure that bankers will be ever so more anxious to lend you the umbrella when the sun is shining, and immensely faster to demand its return, as soon there is the slightest indication that it could possibly rain.

And that my friend, that is defeatism you really can write home about.