Tuesday, June 30, 2015

But It Wouldn't

Dean does the heavy lifting here, but while pissing of the ECB might mean that the ECB stops bailing out the people who lent money to Greece (HAHAHAHA no really it's possible), they can't stop Greece from using the Euro. Greece doesn't actually have to return to the Drachma. Odds are in the short run the government would find it necessary to print scrip or similar temporary currency to pay its bills and wages, nothing realistic can stop the Euro being the primary currency in Greece or to stop it from circulating there. If people want to use the Euro, they'll use the Euro, whether or not the ECB stops taking their calls.