Return to Drachma

Greece must leave the Euro! Argentina (Arg) shows why. From ’98 through ’01 Arg was in a bad recession; the Peso was pegged to the USD. Arg borrowed from the IMF cut spending and the economy tanked. Then Arg defaulted on its foreign debt. The economy shank a bit but has been great since. In 3 years Arg was back to its pre–recession level of GDP. If Greece remains in Euroland it will take it 10 yrs.

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.