The ECB Is Considering A Parallel Greek Currency

As mentioned here many times for a long time, a “currency A” and “currency B” situation could be coming. This would likely be the best hedge in keeping Greece from going 110% Communist and allowing Russia to further creep into Europe, up from 100% when the Alexis Tsipras government took hold of the country. This will also keep the EU, at least for the short-term, from imploding.

 

As we first reported yesterday, one of the proposed measures to be implemented in Greece just before, or during its default and/or exit from the Eurozone, in addition to pervasive capital controls of course, is the implementation of a parallel “currency”, or as explained yesterday, a government paying its citizens with IOUs.

This is what we said less than 24 hours ago: Continue reading