A Parallel Currency for Greece
CEPS High-Level Brief, May 2015
7 Pages Posted: 2 Jun 2015
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: Suggested Citation