Greek exit—Strange Currencies

Table of contents

• Background
• What is the likelihood of Greece redenominating a new currency?
• What have been the experiences of other nations who have redenominated?
• What is the legal status of the new currency?
• How would the new currency affect existing agreements?
• How would the transition take place, and on what timeline?

Article summary

Banking & Finance analysis: How could an introduction of a new currency following the Greek debt crises work in practice? Plausible measures and eventualities are outlined by Dr Warren Coats Jr, who led the International Monetary Fund in introducing a new currency to Bosnia, and participated in introductions in Iraq, South Sudan, Bulgaria and central Asia.