Greece, the use of a secondary currency

Greek government does not want to take into account the possibility of using a secondary currency to solve the banks liquidity crisis due to BCE decision to stop ELA.

They have 5 more days till sunday, but it’s clear that if they’ll not find an agreement quickly a second currency could actually be necessary in order to sustain the internal market. This can be just a temporary choice, or a long term solution.

The first case allows to gain time, and the currency will keep be relatively stable compared to euro, since people will expect to get back euros in the future. The EU will need to deal with a less dramatic humanitarian crisis.
Instead the use of the currency as a long term solution may open the door to inflation.


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