Economy

Demeter

(85,373 posts)

16. We can’t print drachmas, says Greece’s finance minister

Fri Jul 3, 2015, 04:29 PM

Jul 2015

http://www.rawstory.com/2015/07/we-cant-print-drachmas-says-greeces-finance-minister/

With speculation swirling that Greece might be forced out of the euro and have to print its own money after a weekend referendum, its finance minister on Thursday said the country no longer had the presses to make drachmas.

“We don’t have the capacity,” Yanis Varoufakis told Australian public radio network ABC.

In 2000, the year before Greece joined the eurozone, “one of the things we had to do was get rid of all our printing presses” as part of the bloc’s assertion that “this monetary union is irreversible,” he said.

“We smashed the printing presses — we have no printing presses,” Varoufakis said...

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