Parallel currency not the solution for Greece: Capital Economics
Quotes from Capital Economics:- The idea that Greece could introduce a parallel domestic currency to improve its competitiveness while still honouring its international debts is not the solution to the country's problems…
- The idea that Greece could introduce a parallel domestic currency to improve its competitiveness while still honouring its international debts is not the solution to the country's problems.
- The introduction of a parallel currency would carry many of the costs of leaving the eurozone altogether, but potentially lack some of the key benefits.
- If it happened, it would be more about saving face than anything else and would almost certainly be a stepping stone to an exit rather than an alternative to it.
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