The notion that Europe will not be affected by the American financial crisis has already been shown to be the economic nonsense that it has always been. As you argue, the notion that the euro is Europe’s Noah’s ark is nothing but economic nonsense, as well (“No Room in The Ark,” November 15, 2008). Those who now clamor for a place on the mythical vessel so as to be saved from the deluge are deluded once again, as will be clear soon enough. No matter how important it has become in less than a decade, the euro is just another currency. Whence this delusion, though? What is it that makes Europeans believe that they are somehow special and thus invulnerable? It cannot be anything else but collective smugness that has evolved in the good years since World War II. This is the timber of which the vaunted ark is actually made, and by which it will readily sink.