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Europe’s ‘Lazarus option’: reviving the old currencies

Posted on 05 October 2012

The eurozone crisis can be eased by bringing back the national currencies of troubled economies to run alongside the euro. The eurozone has worked itself into a corner from which it does not know how to get out. At stake is not only the economic wellbeing of Europe, but also its political stability.
On the one hand, most Europeans agree that a breakdown of the eurozone is to be avoided at all costs. On the other hand they recognise that the monetary union cannot survive much longer in its present form. Measures that translate into the likes of Germany having to pick up the bills, or the likes of Greece having to suffer harsh austerity measures in order to repay foreigners won’t be viable for long………………………………………..Full Article: Source


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