Thursday July 9, 2020

Greece should leave the euro

Greece should devalue a restored drachma to a level that makes investment in the country highly attractive again

14th June, 2015
Greece needs a boost to demand from beyond its shoresBloomberg

The risks of Grexit may well be less now than the risks of Greece remaining in the eurozone. The country is currently transitioning from a dysfunctional economy to a non-functional one. It is tied into an exchange rate that is too inflexible to enable the country to stimulate demand from overseas at a time when it has mass excess capacity, an unemployment rate of 25 per cent, and a balance of payments surplus. It cannot...

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