Wednesday, May 20, 2015

A Parallel Currency for Greece

by Thomas Mayer

Centre for European Policy Studies

May 20, 2015

Greece and its creditors seem to be engaged in a game of chicken: both sides expect the other to yield at the last moment. The game will almost certainly end with each side deviating somewhat from its preferred course. This High-Level Brief discusses how a parallel currency could contribute to a resolution of the conflict. In the author's view, it would be the least-bad option for both sides among three possible options on the table.

Download the Commentary (PDF)

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