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| Europe |
| Greece will print its own euros |
| 2012-03-15 |
| Out in the real world this would be known as counterfeiting and the perps would end up doing long jail terms. But in the Alice in Wonderland world of the Euro this is perfectly acceptable. Google translate. |
| Posted by:tipper |
| #4 IMHO, this is more a political move than economic, and a balls-out nuclear threat at that. Set aside for the moment what the profligate Greek government may or may not deserve, and consider only that it remains a sovereign nation. The EU is keeping Greece chained in for the sake of the "European project," not for the good of Greece, which would be best served by a return to the drachma. The EU is flatly selling Greece down the river in the name of an ideal that was unachievable from the start. This is Greece's reminder to the EU that they have the power to retaliate. "Let us go, or we will drown you in worthless euros, and make your economies look like ours." Clever. I doubt they'll be in the eurozone much longer. |
| Posted by: RandomJD 2012-03-15 14:18 |
| #3 I think this is how North Korea stays solvent. Only it's dollars. |
| Posted by: Shimble Guelph5793 2012-03-15 11:07 |
| #2 wiEUmar. |
| Posted by: Bright Pebbles 2012-03-15 09:52 |
| #1 Actually, as yet another sign of the unicorn farts on which the whole euro fantasy was built, member states print their own euros - not the ECB. The country it was minted in is marked on each bill and coin. A German friend and I were speculating a couple of years ago that if Greece was not allowed to exit, they'd have to resort this, and a Greek euro would become worth a fraction of a German euro. Unfortunately, you can't tell the difference with the kind that is "minted" electronically. |
| Posted by: RandomJD 2012-03-15 06:59 |