What Greece Could Do
Greece could ease the crisis by establishing control over its central bank. Here's how.
Greece doesn’t need a new currency, it needs control over its central bank.
The Greek crisis is not fundamentally about Greek government debt. Nor in its current acute form, is it about the balance of payments between Greece and the rest of the world. Rather, it is about the Greek banking system, and the withdrawal of support for it by the central bank. The solution accordingly is for Greece to regain control of its central bank.
I can’t properly establish the premise here. Suffice to say:
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