A Parallel Currency for Greece

CEPS High-Level Brief, May 2015

7 Pages Posted: 2 Jun 2015

See all articles by Thomas Mayer

Thomas Mayer

Centre for European Policy Studies (CEPS); Deutsche Bank, London

Date Written: 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.

Keywords: Greece, credit, parallel currency

Suggested Citation

Mayer, Thomas, A Parallel Currency for Greece (May 20, 2015). CEPS High-Level Brief, May 2015, Available at SSRN: https://ssrn.com/abstract=2613350

Thomas Mayer (Contact Author)

Centre for European Policy Studies (CEPS) ( email )

1 Place du Congres, 1000
Brussels, 1000

Deutsche Bank, London ( email )

Winchester House
Great Winchester Street, 1
London EC2N 2DB
United States

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