From Dr Ingo Bobel.

Sir, There is a lot of truth in the observation that Europe’s political and economical institutions are not ideally suited to cope with economic crisis ("Fiscal fairness, not fiscal prudence”, editorial, November 27). The main reason for this is that primarily Germany, Europe’s largest economy, lacks an economic strategy. Without such a strategic approach to economic policy there will be no solution to both the long-term and the current problems that Germany (together with numerous European Union countries) is facing.