Yet international letters of credit have long been used to facilitate just such intertemporal problems. Banks provide a significant access to the money contained in the letter of credit based on the agreements themselves and the history of compliance of the parties involved. The importance of this mechanism was clearly revealed in the fall of '08 when its continued operation was threatened by the financial collapse. Unless remedied, mass starvation could have ensued.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."