tag:blogger.com,1999:blog-7475395270631949054.post5313266766456132447..comments2024-02-15T21:31:06.486-08:00Comments on Capitalism and Freedom: Thoughts about Greek redenominationChristopher T. Mahoneyhttp://www.blogger.com/profile/07096275297545797428noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7475395270631949054.post-7861500388040167082013-01-25T20:30:56.677-08:002013-01-25T20:30:56.677-08:00That's a good hypothetical return to a nationa...That's a good hypothetical return to a national currency, but do you think that Greece will be allowed to Grexit? <br /><br />It is so cheap to keep it going with a few billion euros every few months. Even if it runs a 10% budget deficit for the next couple of years, you're only talking about €25bn a year to finance it, about €2bn a month divided among the Eurozone. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7475395270631949054.post-75076333494748290712011-12-05T14:39:18.340-08:002011-12-05T14:39:18.340-08:00German redenomination from the euro into the DM wo...German redenomination from the euro into the DM would be very unlike a Greek redenomination. Going from the euro to the drachma is going from a hard convertible currency into a soft currency that may not be convertible. Going from the euro to the DM would be very similar to going from the DM to the euro. It can be pre-announced, and it would not cause a flight from Germany (in fact the reverse, since the DM would be expected to appreciate). <br />While it might make sense for Germany to exit the eurozone, it is politically impossible because it would make Germany a pariah state once again. Despite the fact WW2 ended 67 years ago, Germany must still be the uber-European citizen.Christopher T. Mahoneyhttps://www.blogger.com/profile/07096275297545797428noreply@blogger.comtag:blogger.com,1999:blog-7475395270631949054.post-69814436526681935952011-12-05T14:07:56.415-08:002011-12-05T14:07:56.415-08:00Are these the steps Germany will take upon reintro...Are these the steps Germany will take upon reintroduction of the D-Mark? <br />And, is it better for Germany to abandon the Euro first?Bill Wolffehttps://www.blogger.com/profile/10997435502985148555noreply@blogger.com