Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
it would seem to me that it would be difficult to decouple the value of the scrip from the euro.

It seems to me that, what governments cannot/willnot do by fiat 'the market', (esp. blackmarket), can do routinely and with ease.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Jan 6th, 2015 at 09:58:12 AM EST
[ Parent ]
Probably. But in this case I would assume that the government would actually want its scrip to devalue against the euro.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman
by dvx (dvx.clt št gmail dotcom) on Tue Jan 6th, 2015 at 10:11:25 AM EST
[ Parent ]
And it would likely get it, absent some extraordinary intervention by the ECB.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Jan 7th, 2015 at 12:43:32 AM EST
[ Parent ]

Display:

Occasional Series