{"id":37132,"date":"2012-05-22T08:39:13","date_gmt":"2012-05-22T08:39:13","guid":{"rendered":"https:\/\/armbanks.am\/2012\/05\/22\/235569\/"},"modified":"2024-12-15T12:57:27","modified_gmt":"2024-12-15T12:57:27","slug":"parallel-currency-could-emerge-in-greece-deutsche-bank-says","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/05\/22\/37132\/","title":{"rendered":"Parallel currency could emerge in Greece- Deutsche Bank says"},"content":{"rendered":"<p><strong>YEREVAN, May 22, \/ARKA\/.<\/strong> If Greece&#8217;s next set of elections produces a government opposed to its bailout, this could lead to a parallel currency to the euro emerging in the country, rather than a formal exit of the euro zone and return to the drachma, German Die Reinische Post newspaper said quoting economists at Deutsche Bank.<\/p>\n<p>In a note, Deutsche Bank said Greece was unlikely to leave the euro as this would result in &#8220;widespread default and a collapse of the banking sector, which could lead to economic, social and political catastrophes.&#8221;<\/p>\n<p>Instead, the bank&#8217;s economist Thomas Mayer in Frankfurt thinks a more likely scenario would be a partial stop in financial assistance, with continuing support for debt-servicing needs and the Greek banking sector but no further support for the financing of the government&#8217;s primary expenses.<\/p>\n<p>&#8220;In this case, (the) difficulties of the Greek government in paying its bills could induce it to issue IoUs that would form the nucleus of a national parallel currency,&#8221; the world&#8217;s biggest currencies-dealing bank said, dubbing this parallel currency the &#8220;Geuro&#8221;.<\/p>\n<p>This would allow Greece to devalue its exchange rate without formally exiting the currency union. -0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If Greece&#8217;s next set of elections produces a government opposed to its bailout, this could lead to a parallel currency to the euro emerging in the country, rather than a formal<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12159,9216],"tags":[15520,12866,13121,350],"class_list":{"0":"post-37132","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-exchange-market","7":"category-news","8":"tag-deutsche-bank-2","9":"tag-exchange-market","10":"tag-greece","11":"tag-350"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/37132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=37132"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/37132\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=37132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=37132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=37132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}