From Mr Johnny Munkhammar and Mr Dick Kling.

Sir, You report (October 22) that President Nicolas Sarkozy of France has proposed the creation of European sovereign wealth funds. Using these funds – with capital from European taxpayers – European governments would increase ownership in companies. The main purpose would be to avoid foreign ownership of European companies. There was, however, no reference to him pointing out any disadvantage with foreign ownership or of inflow of foreign capital.