The Italy factor gets ugly
The Italy factor gets ugly
- November 10, 2011
- Research by Stergios Skaperdas, economics professor, is featured in Seeking Alpha November 10, 2011
-----
From Seeking Alpha:
Perhaps there'll be fewer members. Surely the rules for membership will change. Figuring
out what it means to be a euro member is headed for a dramatic attitude adjustment.
Meantime, it's a sign of the times when economists are offering detailed tips for
exiting the euro. Stergios Skaperdas, an economics professor at University of California,
Irvine, outlines a roadmap for Greece's departure, assuming it comes to that, which
is no longer beyond the pale: To minimize the number of days banks would need to be
closed, the decision to move to the new drachma should be made on a Friday. Bank deposits
and domestic debt would be immediately converted to new drachmas at the initial exchange
rate. It would fall to the Greek courts to determine whether pre-2010 public debt
would follow suit, but there is no reason to think they would treat it any differently
from domestic debt.
For the full story, please visit http://seekingalpha.com/article/306943-the-italy-factor-gets-ugly.
-----
Would you like to get more involved with the social sciences? Email us at communications@socsci.uci.edu to connect.
Related News Items
- Careet RightUCI soc sci grad shout out
- Careet RightRepublicans are turning against legal marijuana
- Careet RightMelissa King shares where to eat in San Francisco - from dim sum and cioppino to late-night bites
- Careet RightHow research aims to improve bad housing data
- Careet Right2 expensive mistakes most retirees make -- and how to avoid them