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Well I was thinking mostly of what options does Greece has if it is not allowed to print money to get out of debt. The Brazilian virtual currency, named the op
by kokey 11y ago
Well I was thinking mostly of what options does Greece has if it is not allowed to print money to get out of debt. The Brazilian virtual currency, named the opposite of virtual, was an interesting idea. Another alternative could be for them to have an aggressive sales tax domestically while giving tax relief for exports, basically making them competitive internationally while their money doesn't go as far locally, but I think EU rules forbid this sort of subsidy.
- tomjen3 11y agoAnother idea would be to multiply pension plans with whatever the drachma to euro ratio ends up being - that way only the world bank suffers and the pensioners can keep their standard of living. They would likely have to do something similar for employees and business owners, but that would still be manageable.
- honksillet 11y agoUltimately everyone is going to take a haircut. Creditors and pensioners.