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Greek exit—Strange Currencies

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Published on: 02 July 2015

Published by a LexisNexis Banking & Finance expert

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.

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