Can Greece Print Euros? No, Not Really; Parallel Currencies Now in Use

Can Greece Print Euros? No, Not Really; Parallel Currencies Now in Use

July 6, 2015 0 By News Desk
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The Guardian discusses practical math in With a Return to the Drachma Unwanted, Could Greece Just Print its Own Euros? It is certainly physically capable of doing so: the Greek central bank owns a press in Holargos, a suburb of Athens, that once printed drachma and is currently one of 14 high-security currency printing works across the eurozone producing euro banknotes. But actually going ahead and printing unauthorised notes would amount to a declaration of war on the European Central Bank.

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Can Greece Print Euros? No, Not Really; Parallel Currencies Now in Use