Pro-Drachma Party Forms in Greece (and Golden Dawn Continues to Cause Trouble)
Via the BBC: Greek pro-drachma party Plan B to hold first meeting
"Plan B" only has about 400 members but its leader, Alekos Alavanos, believes it can offer a new way out for Greece.
Mr Alavanos has told the BBC he wants a moratorium on the country’s debt repayment, an orderly exit from the Euro and nationalisation of the banks.
Of course, the part is hardly likely to be of any significance.
Despite the deeply unpopular spending cuts that Greece has been forced to take to qualify for an EU bail-out, more than 60% of Greeks still back membership of the single currency…
The story struck me as interesting if only because there is a great deal of political dissatisfaction in Greece at the moment (not that that is a surprise). The truly problematic party is Golden Dawn, to wit (via Euronews): Golden Dawn and Syriza clash over ‘Heil Hitler’ cries in Greek parliament
The neo-Nazi Golden Dawn party is at the centre of another political row in Greece after one of its MPs was expelled from parliament amid cries of “Heil Hitler”.
The sitting president had already warned Panayiotis Iliopoulos for repeatedly violating parliamentary rules by insulting fellow deputies.
After he had called them “goats”, “scoundrels” and “wretched people”, security guards were called to lead him away.
The phrase “Heil Hitler ” was clearly heard three times – although who shouted it is in dispute. Golden Dawn claims the cries came from left-wing deputies from the opposition Syriza party.
Golden Dawn has 18 seats out of the 300 in the Greek parliament.
Best to declare an internal exchange rate (x number of drachmas equal y number of euros) and replace every euro in circulation quickly. The euros collected by the central bank can then be used to repay euro-denominated debts, while the new drachmas will allow an immediate return to growth.
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helpful. Keep on posting!
Golden Dawn has come to prominence in the 25 years since I last lived in Greece, but whenever I hear or read mention of it, it always makes me think of Operation Golden Flow.
I know, I know, in many ways I’m still a 14-year-old.
The Greeks should go off the Euro and onto a currency of their own. Then they can devalue and come out OK, like Iceland. After all, what can the Germans do to stop them? Invade Greece and hold guns to their heads? Can I walk that back? I don’t want to give the Germans any ideas.