Quote Originally Posted by Fuchs View Post
That's no issue this time. Remember, the old currency (Euro) would not lose value as in other monetary reforms. They would still be able to do business in Euro.
A new indigenous currency would rather be introduced through requiring payment of taxes in it and through paying public servants as well as contractors with it.

The Greek industry would not have substantially greater difficulties paying Euro bills then than now.
Besides; bankruptcy laws can be written to national advantage.
How would Greek industry not have significantly greater difficulties repaying Euro bills? The Drachma will still be worth much less than the Euro and Greek monetary policy can only go so far to alleviate that. Ultimately Greek industry will be required to pay a much larger percentage of their available capital to purchase Euro than many of them can afford.
As for the Greek government re-writing bankruptcy policy, I am not sure how making bankruptcy easier to declare is going to help.