If The Troika Says “Nein” Tomorrow, Here’s What The “New Drachma” Will Look Like

drachma

If The Troika Says “Nein” Tomorrow, Here’s What The “New Drachma” Will Look Like (ZeroHedge, Feb 22, 2015):

While Greek officials remain ‘confident’ of their ability to deliver a reform package that the Troika-esque “institutions” will accept tomorrow (notably a bank holiday in Greece), it appears the Germans are not so sure. Hans Michelbach, a finance expert of the Christian Social Union, told the Handelsblatt newspaper it is “inconceivable that the German parliament can make a final decision on the bridge program for Greece before the end of February.” Having already seemed to capitulate on the promises made to the electorate, and now beginning to crack down on tax evasion, we wonder how long it will be before the dreaded ‘Drachmatization‘ occurs (by dictat or revolution).

 

2 thoughts on “If The Troika Says “Nein” Tomorrow, Here’s What The “New Drachma” Will Look Like

  1. This story is far from over. I don’t think the Greek people will knuckle under to the bankers, regardless of what their government might wish. If they are actually working on their new currency, they know a lot more than we do.

Leave a Comment