Monday, August 3, 2015

Galbraith on the plan B for Greece

Slow (really slow) posting this summer. Here a few links to Jamie's role on the Greek Ministry of Finance Working Group convened by Varoufakis. Here he clearly says that: "At no time was the Working Group engaged in advocating exit or any policy choice. The job was strictly to study the operational issues that would arise if Greece were forced to issue scrip or if it were forced out of the euro." So it was a plan B in case of Grexpulsion, not a tactical negotiation tool or a threat of Grexit.

Below a podcast on the same topic (first half in which Jamie is interviewed).

Again it confirms it was a contingency plan, and no there was no plan to hack taxpayer accounts to prepare a return to the drachma.

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