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BREAKINGVIEWS-A revived drachma would plunge -- but could heal
Reuters - 07/11/2011 10:33:03
By Ian Campbell
LONDON, Nov 7 (Reuters Breakingviews) - Greece wants to stay in the euro zone. If it were to leave, the new drachma might well follow an Argentine trajectory. The peso fell 66 percent in a few months. Then comes 30-50 percent inflation -- or more. Greeks would be impoverished. But a more competitive country could emerge.
Reuters - 07/11/2011 10:33:03
By Ian Campbell
LONDON, Nov 7 (Reuters Breakingviews) - Greece wants to stay in the euro zone. If it were to leave, the new drachma might well follow an Argentine trajectory. The peso fell 66 percent in a few months. Then comes 30-50 percent inflation -- or more. Greeks would be impoverished. But a more competitive country could emerge.