Mises Wire
Author:
Patrick Barron
Online Publish Date:
low exchange rate between the drachma and the euro, making Greek products more competitive. Well, there is a semester’s worth of economic fallacies embedded in this so that their goods do not increase in price in foreign currency terms. This policy masks real structural problems. It is not a currency problem. 3. Instituting drachma. In fact, the best alternative for Greece right now is to allow free competition in currencies which would allow the Greek people to trade in whatever