Should Greece Remain in the Eurozone?

32 Pages Posted: 5 May 2015 Last revised: 6 Aug 2015

See all articles by Robert L. Hetzel

Robert L. Hetzel

Federal Reserve Banks - Federal Reserve Bank of Richmond

Multiple version iconThere are 2 versions of this paper

Date Written: July 30, 2015

Abstract

Should Greece remain in the Eurozone at the cost of continued deflation and recession? Alternatively, is it realistic to believe that Greece can return to prosperity by leaving the Eurozone and readopting its own national currency, the drachma? An answer to these questions requires an understanding of why Greece has suffered prolonged recession.

Note: A previous version of this paper was circulated under the title "A Comparison of Greece and Germany: Lessons for the Eurozone?"

JEL Classification: E50

Suggested Citation

Hetzel, Robert L., Should Greece Remain in the Eurozone? (July 30, 2015). FRB Richmond Working Paper No. 15-04R. Available at SSRN: https://ssrn.com/abstract=2602791 or http://dx.doi.org/10.2139/ssrn.2602791

Robert L. Hetzel (Contact Author)

Federal Reserve Banks - Federal Reserve Bank of Richmond ( email )

P.O. Box 27622
Richmond, VA 23261
United States

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