The amount of currency that goes in and out of the European Union is staggering. And the more you know about it, the more you can fathom. For example, the EU set a 10,000 pound limit for payments during the EU debt crisis, which was the most costly currency crisis since the 1930s.
The EU’s total debt is about 16 trillion euros. And every single euro goes from the account of the European Central Bank (ECB) to the account of the European Commission. And every single euro goes to the account of the European Commission’s own budget. And to this day, the ECC has to decide what to do with all that money it doesn’t have. In the end, they use it to pay off old debts and to pay for new ones.
It seems like every country has their own version of this. Greece (which is actually the name of the Greek state) gets their money from the ECB, while Ireland gets most of their money from the EU Commission. But even in these countries, when a crisis hits, the EU or any of the European Central Bank’s banks can demand that all the money it doesnt have go somewhere. Even countries like the Netherlands and Germany would be able to demand that all their money go to Greece.
This is the same dynamic that exists between the EU and the Greek government. The Greek government has more euros than the EU Commission, but they are also unable to pay their bills. Instead they are forced to take the money they have with them because the European Union has frozen the Greek government’s assets. As a result of this, the Greek government can no longer issue its own currency.
It could also lead to a situation where a country’s currency becomes worthless or simply doesn’t work.
This sounds dire, but it could actually be good for Greece. It keeps the Greek government from having to issue their own currency. The only other currency that makes sense for Greece is the drachma, so they could still issue this currency, but the drachma would effectively act as a “fiat.” This would allow the Greek government to issue their own currency.
I think it is a good idea for the government to issue their own currency, but not in this form. If Greece does this, they would be issuing their own gold coin. Gold coins are one of the most valuable currencies in the world. They are used to pay doctors, teachers, and the like, and are used for purchasing most of the goods and services of a modern economy.
So the Greeks could issue their own gold coin, but only in that particular form. In theory this should allow them to have an alternate gold coin that is equal in value to the drachma. But there is a catch: This would mean that the Greek government has to actually produce this gold coin. And this is where the problem comes in. The drachma is just a worthless piece of paper.
The Greek drachma is actually not what it purports to be. Not only is it worthless in value as paper, it’s also in a currency with a much higher value. In fact, it’s the third most valuable currency in the world. In practice, because the drachma is a worthless piece of paper, it may soon be worth less than the paper it’s based on.
The Greek government uses it to transport people to places that are “not-like-it-is-a-currency”. These are the places where the Greek government uses it. For example, a street in Paris would be worth two drachmas. If it was actually a street, the Greek government could actually transport it as the Greek government did during the Greek invasion of Rome.
