4 ms·
I think you can make the case though that Greeks with savings in euro are quite glad that the government can't just devalue the currency when they see fit. Als
by graphene 15y ago
I think you can make the case though that Greeks with savings in euro are quite glad that the government can't just devalue the currency when they see fit.
Also, the harsh measures which are necessary now could actually go some way to restoring the imbalances in the Greek public finances, whereas devaluation is just kicking the can down the road.
- bd_at_rivenhill 15y agoThey will remain quite glad unless the Greek authorities decide to freeze all of their accounts and then summarily convert them into something (maybe "new Drachma") with considerably less value the way that Argentina did in 2001-2002. I would personally be moving my money to a bank somewhere beyond the reach of the Greek government if I were them.