The biggest German private bank proposes to introduce a parallel currency to the euro in Greece, where opponents of austerity measures to win the next election.
The measure would ensure the continued international financial support, so that Greece can pay their debts, says a study by economists at Deutsche Bank, published today.
"Greece could thus devalue its own currency without formally leaving the euro," say the same experts who suggest geuro also the name for the Greek parallel currency."
The new monetary unit would consist of government bonds issued by the Hellenic state, that could be sold in the capital markets.
Initially, the geuro suffer a sharp devaluation against the euro, but according to the study of the Deutsche Bank the Greek government would be able to strengthen the new currency, through sound fiscal policy.
Alongside the introduction of further structural reforms, the policy would provide a return in full to the euro, German economists explain.
A total renunciation of Greece to the euro is considered "unlikely" in the same study, because most Greeks want to continue in the single currency, also refer to the study authors.
Deutsche Bank also considers "unlikely" that the troika (IMF, European Union and European Central Bank) suspend all aid to Greece in case of victory of political forces that want to renegotiate the memorandum signed by the laws of Athens in June.
The payment of benefits under the new aid package of 130 billion approved in March, would be canceled, but the Greek debt service should continue to be provided by international partners, so that Greek banks could be supported by a "bad bank "of Europe, where were deposited the so-called toxic securities (very underrated), provides for the German bank.
The proposed introduction of a parallel currency to the euro in Greece has already been advanced earlier by other economists, but returned to win today, instabilities.
The measure would ensure the continued international financial support, so that Greece can pay their debts, says a study by economists at Deutsche Bank, published today.
"Greece could thus devalue its own currency without formally leaving the euro," say the same experts who suggest geuro also the name for the Greek parallel currency."
The new monetary unit would consist of government bonds issued by the Hellenic state, that could be sold in the capital markets.
Initially, the geuro suffer a sharp devaluation against the euro, but according to the study of the Deutsche Bank the Greek government would be able to strengthen the new currency, through sound fiscal policy.
Alongside the introduction of further structural reforms, the policy would provide a return in full to the euro, German economists explain.
A total renunciation of Greece to the euro is considered "unlikely" in the same study, because most Greeks want to continue in the single currency, also refer to the study authors.
Deutsche Bank also considers "unlikely" that the troika (IMF, European Union and European Central Bank) suspend all aid to Greece in case of victory of political forces that want to renegotiate the memorandum signed by the laws of Athens in June.
The payment of benefits under the new aid package of 130 billion approved in March, would be canceled, but the Greek debt service should continue to be provided by international partners, so that Greek banks could be supported by a "bad bank "of Europe, where were deposited the so-called toxic securities (very underrated), provides for the German bank.
The proposed introduction of a parallel currency to the euro in Greece has already been advanced earlier by other economists, but returned to win today, instabilities.
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