There is a theory running through financial circles that claims to offer Greece a get-out-of-jail-free card to its current problems and avoid the country being forced out of the single currency. The idea is fairly simple: Greece needs to launch a parallel currency alongside the euro so that it has the money to get its unemployed citizens back to work. There's only one problem — it's bound to fail. To understand why you need to look at what launching a parallel currency would actually mean in practice. Here's Wolfgang Münchau in the Financial Times today (emphasis added): I would advise against a cold turkey switch ... (full story)