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2012-05-25

The silliness of a parallel currency

The silliness of a parallel currency
Peter Bofinger nailed the issue in the debate on the parallel currency, the “geuro” as proposed by Thomas Mayer. Bofinger says a geuro is worse even than a grexit because it translates prices and wages into geuros, while keeping debts in euros. The country would be immediately bankrupt, and the citizen would revolt.

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