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DetlefK

(16,670 posts)
Sun Jun 28, 2015, 10:01 AM Jun 2015

A solution for Greece, invented by a russian farmer and a school-student [View all]

http://www.themoscowtimes.com/news/article/anarchist-russian-farmer-to-defend-his-village-currency-in-court/522928.html

The rouble is in trouble. To ease commerce in his cash-strapped village, a russian farmer started printing his own currency, the "kolion": It can only be earned in that village and it can only be spent in that village, thus allowing the villagers to save their roubles for trades with outsiders.
(The russian courts are trying to sue him, but it's very complicated because they can't pin him down why exactly and who exactly got damaged.)

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A few years ago, I read that the son of a banker?/politician? proposed a dual-currency-system in Greece: One currency inside Greece, the Euro for foreign business.

With the negotiations at an end, with Tsipras' gambit of buying time with a fake referendum having failed, this partial exit from the Euro might be what Greece needs. A local currency for day-to-day business and the Euro for important business. Greece relies heavily on agriculture, which would allow this to work.

The big question would be the exchange-rate from Euro to "drachma". Who controls the printing of the new drachma? Who sets the exchange-rate?
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