Bishop Nikol Cauchi's 'Ethics and financial crisis' (The Sunday Times, February 15) is a top-class exposé of the current global economic situation. Excellent is the comparison he drew with the disastrous years 1929-36.

However, his correct emphasis on the absence of ethics built on "the sure foundations of truth and justice" fails to distinguish between the 'financial' (guilty ) and the 'economic' (casualty) crises. These are not the same; if they were, Malta's economy would not even be risking a crisis (hopefully averting it) in the short term once its financial sector managed to remain unscathed.

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