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Greece back to Drachm?

Seems as if the Unthinkable gets closer and closer for more and more star
economists. Greece is about to loose the Euro as currency and going back to
the drachm. Seems as if all effort to avoid the expulsion of Greece from the
european currency union has failed.

The reason is the same as six months before: Greece has extremely high debts, the money issued to Greece (120 billion Euros) has still not chilled down the effects of the high risk debts. And continuing protests of the population haven’t eased the problem either!

So what’s next to come to Greece? The problem is, that an expulsion from the european currency union is not as easy as snipping with the fingers. Reintroducing the Drachm as the currency as it was 11 years before might end up in a rush on the banks.

Of course there is always a Plan B to avoid such problems but will they really work when it comes to the truth? No one knows for sure yet. But something has to be done in order to stabilize the Euro and give Greece a chance to get back on it’s feet.

Keeping hopes up with repeating payments and supporting the failing system in Greece can’t be a solution forever! There are numerous people from other countries who are already angry about the policy that the european currency union is burning away so much money in order to stabilize the really faulty system in Greece. As long as there’s no change in the behaviour of Greece, the european currency union is not working for them either!

May 12, 2012 Netspark - 1594 posts - Member since: May 9th, 2011 No Comments »

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FILED UNDER :Curiosities , Economy&Finance , News
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