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The problem is that while Greece is better off leaving the Euro, individual Greeks that already have savings would be worse off if their savings were converted
by Mikeb85 11y ago
The problem is that while Greece is better off leaving the Euro, individual Greeks that already have savings would be worse off if their savings were converted to drachmas.
Seeing as how Syriza was elected by a populist movement, they could just as easily be deposed by the same populism, and a lot of people (especially those who are already retired or nearing retirement age) would be upset if they lost a large chunk of their savings.
But yes, economically, the drachma is better for Greece. Especially for younger Greeks who have little to no savings, and wouldn't be hurt by a devaluing currency, but would stand to gain from increased employment.