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Monday, May 19, 2014

My suggestion for solving our euro woes? Back-up currencies

Smaller alternatives such as Greece's TEM could bolster, rather than undermine, a single currency that has proved inadequate to serve southern Europe

One currency seems not to be able to serve every human need alone. When the money dries up, people go hungry and sleep rough, factories lay idle, and the fabric of society starts to tear apart.

This much became obvious when Greece filed for bankruptcy. With over half of the country's young people without jobs, unemployment is more than a statistic: it is tangible. Anyone who takes a walk can see that money has become too scarce to allow the economy to do its job matching supply and demand.

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READ THE ORIGINAL POST AT www.theguardian.com