A parallel currency for Greece? The comments to the Andresen and Parenteau post.

Real-World Economics Review Blog

In this post Robert Parenteau and Trond Andresen propose a parallel currency for Greece. Here some snippets from the thread. Introductory remarks:

1) An effective tax system is crucial to the new system. Making the tax system more effective (and just) is top priority of the Tsipras government, as is clear from ‘the list‘. This is at the moment obstructed by the Troika.

2) The government of Iceland has published this immensely readable tract on monetary reform (great teaching resource!) which is, from Soddy and Keynes to Werner and Huber a good overview of how scientific economists think about money. And an analysis of the immense failure of ‘private’ banking in Iceland and the changing nature of the money-inflation nexus.

3) Historically, governments (often local, or sub-national) have sometimes been forced to introduce a parallel currencies – not always without succes (Notgeld, but also Wörgl).

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