Dair is correct. It is entirely possible for the Greek state to print its own internal currency whilst not technically departing the Euro. The resultant new currency (let's call it the "shit" for obvious reasons) would be worthless, but if you're a Greekpublic servant that's their problem. This solution is workable, eminently capitalist, and easy to achieve. This is why syriza won't do it.
Unfortunately what syriza might do is print euro paper a l'outrance without ECB permission, beggaring the currency. If determined to do that it would be difficult to stop them except violently. So the rest of the EU would be faced with either going to war with Athens or seeing their savings deflated. Whilst I would quite like France to nuke Athens (if nothing else, it would improve the architecture) I can't see it happening...
The fact that we're even talking about using violence as a way of stopping whatever might be going in Greece is testament to what a lousy idea the euro, as currently constituted, is.
Nope , it is more a testament to how mentally unstable some of you Euro haters are .
Another classy intervention Mark. Well done.
Cyclefree is one of the more reasoned posters on here.
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Cyclefree is one of the more reasoned posters on here.