June 6, 2010

Can the Drachma save Greece?

Drachma reborn?

A Kathimerini article (read in English via Babelfish) about German economist Gioakim Starmpati, and the potential pluses for Greece if the drachma is returned (I paraphrased the text heavily to make it easier to read):

"The only way to save Greece is for the country to become competitive. In order to accomplish this there must be a consideration of the benefits of returning to the Drachma. In particular this would benefit tourism.

Starmpati: "Foreign tourism would be increased with the Drachma, and the effect has been underestimated by those considering the ramifications of leaving the euro."

"...Greece does not follow her own policy anymore, but policies imposed by Washington DC and Brussels. I love the Greeks. They are proud and sincere and should stand on their own and be Greek."

The Drachma

Plan B - return to Drachma with Alekos Alavanos - May 2013

Talk of default / Drachma rebirth heats back up - March 7, 2011

Rumors of Drachma return grow - Nov 2, 2011

Could the drachma save Greece? - June 6, 2010

Related:

2011 – Creating the European Financial Stability Facility (EFSF) & the "PIIGS"

2017 – Another Greek Economic Crisis?

Tourism in Greece

The Drachma almost returned to Greece 2013–2017

Greek economic Survival in the 1990s

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