As Greece leaves the three-year bailout program, former financial minister Yanis Varoufakis came up with a radical solution. He reportedly urged Athens to ditch the euro and return to drachma. In an article with the title “Ditch the euro and bring back the drachma” the Times quoted Varoufakis as saying …
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Ex PM Papandreou says his gov’t explored Grexit option and refusal of first bailout
Former prime minister George Papandreou said that his government explored all possibilities including refusal of first bailout as well as exit from the eurozone before deciding to bring the International Monetary Fund in the country in May 2010. Speaking on Real FM radio on Thursday, the former leader of PASOK …
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Greece debt crisis: Is the government testing the waters for Drachma?
The deep rift between Greece’s European lenders and the International Monetary Fund leads to nothing else than to a delay in the conclusion of the second review. For one more time, the rift has triggered fears that another Greece debt crisis is looming and that even a default was at …
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Grexit: SYRIZA MP shocks as he proposes Return to Drachma debate
SYRIZA lawmaker and former Alternate Minister of Culture Nikos Xydakis shocked the political world and the public opinion on Tuesday morning when he implied a possible Greek withdrawal form the eurozone. Xydakis said that speaking about Drachma is a taboo and that there should be no taboos when we speak …
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German Ifo Institute: Temporary return to Drachma, Unconditional Debt Relief
Germans have the solution to Greek Debt crisis: temporary return to Drachma and unconditional debt relief. The idea comes from Austrian economist Gabriel Felbermayr, Director of Foreign Economy Department at conservative think-tank Ifo (Institute for Economic Research) is a Munich-based research institution and one of Germany’s largest economic think-tanks. In …
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If Germany wants Grexit & Lafazanis wants Drachma, the logical conclusion is: Berlin supports Popular Unity!
Many Greeks have been wondering what is the purpose of the snap elections scheduled for September 20th? Some answer the question replying “Tsipras could not govern with the support of the opposition but without the support of his own MPs,” others warn that “with such a huge debt and such …
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Lafazanis’ Popular Unity doesn’t exclude Grexit and Return to Drachma
This is a very clear stance before the elections: Popular Unity, the party of SYRIZA rebels around former energy minister Panagiotis Lafazanis will pledge to abolish the bailout program and cancel austerity plans, will not exclude an orderly exit from the Eurozone as an option and introduce anew a national …
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Varoufakis reveals his secret plans: Parallel currency IOUs, Grexit, Drachma
Former Finance Minister Yanis Varoufakis had a plan: once the ECB forced Greece’s banks to close, he could act unilaterally and 1. issue IOUs 2. apply a ‘haircut’ to the Greek bonds issued to the ECB in 2012, 3. reducing Greece’s debt and 4. seize control of the Bank of …
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Hey, Grexit-Junkies! You can buy your Drachma-Fix here!
Are you a Grexit-Junkie? Do you get cold turkey seeing your Drachma-fix being timely moving away? Do you get headache, nausea, night sweats, fever, hallucinations, increased anxiety, confusion and irritability every time a Eurogroup meeting ends up in agreement with Greece? I got news for you! A medicine without prescription …
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“Grexit” scenarios with Drachmas flying around…
The “Grexit”scenarios have been around, alive and kicking already since last December, when the conservative ex PM made them top slogan against the left-wing. #Grexit” script-writers gave it a new boost right after the elections in January and when it became obvious that the new Greek new government had no …
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Poll: 81% of Greeks support SYRIZA in negotiations with lenders
80 percent of the Greeks approve they way the Greek government deals with the lenders, EU, IMF and ECB. The public opinion polls was conducted12-17 February, that is in the time period SYRIZA was negotiating with the Eurogroup partners, and one day after Greece rejected the Dijsselbloem draft on February …
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Greek PM Samaras: All We Want is Breathing Space – Euro Exit A Nightmare
Just hours before the crusial meetings with Euro Group head Jean-Claude Juncker, German Chancellor Angela Merkel and French President Francois Hollande, Prime Minister Antonis Samaras sent his message to the world of Greece’s lenders: We need a little breathing space to revive Greece’s economy, the drachma would be a catastrophe, Samaras told …
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Merkel Party Official Threatens Greece With Veto Over Further Bailout Aid
A deputy parliamentary leader of CDU, the party of German Chancellor Angela Merkel issued a stark warning to Greece, and said that Germany would not hesitate to veto further aid to the country, if the re any signs it was not meeting the conditions of its bailout. Michael Fuchs told …
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German MP: Greece Should Pay 50% of Wages & Pensions in Drachmas
Aha! A small sleepy village in the German Upper Bavaria has the solution to Greece’s fiscal problems. The village is called “Peissenberg” and has a great man born there: Alexander Dobrindt. “Greece should start paying 50% of salaries and pensions in Drachma!” This revoluationary ’emission’ came from the lips of the executive secretary of the Christian …
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Athens: HSBC Tested Cash Machines For Drachma
After Bloomberg currency Exchange Drachma-Test last week, HSBC bank made another test on Monday. The test was performed at the banks ATM machines in Athens. The bank confirmed the news… and I wonder how many Greeks would rush to banks and withdraw leftovers from their savings in bank deposits. HSBC …
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Bloomberg Tested Post-Euro Greek Drachma on Currency Ticker (picture)
That was a weird day for many traders watching Bloomberg currency ticker featuring a post-euro …Drachma. A blinking XGD code. However those typing the code could not get much information. “The test was visible to a few customers” Bloomberg said in a statement explaining that it had tested a number …
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EU Leaders vs Greek Voters: Huge Gap, Dangerous Cliff
Italian Prime Minister Mario Monti supports ND Antonis Samaras, French President Francois Hollande support PASOK Evangelos Venizelos. The two leaders of the Greek parties that definitely support the austerity bailout. At the same time a, while the country heads for fresh elections, Greeks have developed an allergy towards the austerity and the …
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Real Greek or British Humor? Restaurant Lets Customers to Pay in Drachma
One London restaurant encouraged its customers to pay in old Greek currency, the Drachma. A currency that has not been around since euro coins and banknotes were introduced to the country on January 1st, 2002. “Real Greek” restaurant operation manager Christos Karatzenis offered customers the option to pay for a starter …
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EU Commissioner, UK Money Printing Co: Playing Greece-Euro-Exit Games
What a day! Amid a barrage of warnings and threats for a Greek euro exit and UK companies making even offers to Athens to print there …Drachmas, a EU Commissioner puts the icing on top of the euro cake. EU Trade Commissioner, Belgian Karel de Gucht claimed that the European Central Bank and the European commission …
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EU bank Offers Non-Euro Payment to Greek Firms – Portuguese, Irish to Follow?
It looks as if the taxpayer-funded European Investement Bank is preparing for the euro collapse and/or for the euro-exit of countries applying the economic stability program. That is, the bailout that has so far “helped” Greece, Portugal and Ireland. The EIB has started to include a new legal clause in its contracts …
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