Friday, 16 November 2012

The Parallel Emergency Currency Proposal For The Present Eurozone Crisis.

 The following is an update of some progress made by the Proposal so far written by Trond Andresen.

The southern eurozone crisis is persistently worsening, with no solutions in sight.

There is, however, a soft and much less dramatic, but effective measure that Greece and others could implement, without leaving the euro, at least not in the short term: a parallel emergency currency ("EC") for domestic use.

Furthermore, such an EC system may be up and running very quickly, because it may be implemented as a purely electronic money, mediated via the mobile phone network.

See a collection of essays on this,
which is just out this week.

This collection, based on presentations, is issued by the conveners of a seminar about the topic that was held in Berlin in July this year. My article is on page 13. The seminar conveners were (interestingly enough - not exactly "Occupy" ...) BVMW - The German Association for Small and Medium-sized Businesses

One participant was the former chief economist of Deutsche Bank, who also argues for parallel emergency currencies. The seminar ended in a unanimous declaration for this,
(in German)
See more

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