No, a parallel currency is not the answer to Greece's problems | Forex Factory

  • No, a parallel currency is not the answer to Greece's problems

    From businessinsider.com

    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)

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michaelpelly
May 22, 2015 9:57am
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Quoting nikitasnax
But Greece out of euro IS THE ANSWER to Europe's problems?

Then do it, let Greece leave.

And forget the nonsense abour parallel currency, that was valid with the the previous governments that were your employes, you wish for a parallel, more convenient e?

Well forget it

New currency, brand new and let the market rule the exchange.
I think the German financial minister already made his mind on this matter. And it is hard choice - either let Greece in the pit or loose political support at home - how do you think a politician would decide?
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michaelpelly
May 22, 2015 9:49am
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I say hard labour and less lazy youth generation is the solution to the Greece problem. Less communism, more "travail" :-).
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nikitasnax
May 22, 2015 8:46am
Permalink
But Greece out of euro IS THE ANSWER to Europe's problems?

Then do it, let Greece leave.

And forget the nonsense abour parallel currency, that was valid with the the previous governments that were your employes, you wish for a parallel, more convenient e?

Well forget it

New currency, brand new and let the market rule the exchange.
Reply
PipsExpress
May 23, 2015 4:41am
Permalink
Quoting michaelpelly
I say hard labour and less lazy youth generation is the solution to the Greece problem. Less communism, more "travail" :-).
::flushed down the toilet::

please don't let those turds floating, they mess this place up
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Trader#0CB5
May 22, 2015 9:34am
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Anything is good (pretty much priced in) as long as Greece doesn't adopt the russian ruble .
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