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This reminds me of the old tally stick system in use up until the 19th century in the UK as well as in much of Europe during the middle ages. It also combines some of the features of Tax Anticipation Notes as advocated by Warren Mosler. Perhaps Greece could create enough Digital Euros to cover existing tax arrears. Even a fraction of that amount would constitute a serious stimulus when injected into the Greek economy. A further advantage is that this new money would be more likely to stay in Greece, where there is an assured use for it as payment of taxes.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Feb 24th, 2015 at 04:00:20 PM EST
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