EURO HUMILIATION: Germany ‘freaked out’ as Greece ‘could ditch EU currency for US DOLLAR’
GREECE could be poised to humiliate Brussels by ditching the euro and instead choosing to be tied to the US dollar, Donald Trump’s reported pick as EU ambassador has sensationally claimed.
By NICK GUTTERIDGE IN BRUSSELS
Express.co.uk
Mon, Feb 13, 2017
Professor Ted Malloch revealed that senior Greek economists have enquired about the possibility of adopting the greenback if the country crashes out of the single currency.
He asserted that Athens is so desperate it is prepared to tie itself to the dollar on the same terms as the likes of Puerto Rico if it means being able to quit the eurozone.
And Prof Malloch said German leaders including Angela Merkel were “freaked out” at the humiliating possibility of losing Greece to a rival currency, which would be a devastating blow to the EU project.
Tying Greece temporarily to the US dollar would be one way for the authorities in Athens to ensure that its currency does not completely tank if it leaves the eurozone, as would likely occur with a reissued drachma.
However critics may argue the country would be jumping out of the frying pan and into the fire, as it would simply be trading one currency it has no control over for another.
In an explosive interview with a Greek broadcaster Prof Malloch said it would be the best thing for the the country’s people if it quits the eurozone, adding that the current situation is “simply unsustainable”.
He told Skai TV: “I know some Greek economists who have even gone to leading think tanks in the US to discuss this topic and the question of dollarization.
“Such a topic of course freaks out the Germans because they really don’t want to hear such ideas.”
The Rest…HERE
