It would all be hunky dory because for Germany to export as much as it has done to Greece it would have to hoard Drachma, the drain of which the Greeks could th

It would all be hunky dory because for Germany to export as much as it has done to Greece it would have to hoard Drachma, the drain of which the Greeks could then simply accommodate via a fixed wage Job Guarantee - ending unemployment permanently. As it stands the ECB refuses to do the necessary reflection of the German Target2 hoard into the Greek economy and the result is excessive unemployment and reduced production in Greece due to lack of monetary circulation. All to service a belief about the medium of exchange that isn’t actually the case - that people won’t hold it without monetary incentive (aka an interest payment). We need to chuck out this damaging interest-obsessed monetary religion. The price anchor and stabilisation policy needs to be in the market for labour, not the market for money.