Thursday, July 23, 2015
Sunday, July 12, 2015
LESSONS ON GREECE
I) IS IT POSSIBLE FOR GREECE TO EXIT EURO AND PRINT ITS OWN CURRENCY?
Based on the article here
and the belief of many commentators it may be the only option open to Greece
Let’s dismiss certain myths about money. Money is not pegged to gold. Money is not scarce that Greece have to beg or borrow from other countries. It is perfectly possible for Greece to ignore current monies, exit Euro and print new currency.
Yes they may make it tough on Greece but if we digest the thrust of the article above, the European banks imposed additional loans on Greece not to save Greece but to save their own banks.