Thread: is this theft ?
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Old 18-03-2013, 10:39   #30
GEaston
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is this theft ?

Some real problems with reversion to old currency. Take Greece - they only had one printing press for Drachma and that has been in a museum since Euro creation.

Practically you can't go back to the old currency without printing it, lots of it. You also can't print that quantity of old currency in secret. Soon as people find out the old currency is being printed then you have a same day banking run/collapse. The lead up to the Euro was 10 years in the planning with no plan at all for reversion because it was a one way street. Doubtless the EU is thinking about it now, but for the above reasons there's no easy way to do it. Devaluation would be 10x not 10% so if it happens there will be blood on the streets.
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