Friday, November 4, 2011

Sanity still prevails

Should Greece leave the euro zone and return to the drachma?

In the wake of the political chaos in Greece, pundits have started to ponder what seemed long unthinkable: whether Greece should ditche the euro and return to the drachma, the country's currency until it switched over to the euro in early 2002. Most observers still think this would be mad: Greece's banking system would collapse, inflation would explode and contagion could even kill the entire euro edifice. But the number of those endorsing such a radical move seems to be growing, at least in Greece. The benefits of re-gaining control of its currency, such as increased competitiveness, they argue, would outweigh the costs of leaving the euro zone and defaulting on its debt. What do you think?
You voted: NoCurrent total votes: 10305
46% voted for Yes and 54% voted for No

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