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I'm halfway through Michael Lewis's recent book "Boomerang: Travels in the new third world." So far the book has a chapter on Iceland and another on Greece. It is a hilarious read where he relates his investigations on the crises affecting these two countries. If it was a fiction book, and you were asleep thru 2002-present, you would say, no way, no country could possibly do these things. But then again, it is non-fiction ... This book is a little lighter and more comedic in the writing style than the "The Big Short", but every bit as good. Based on only being halfway thru it, I'd highly recommend it.
I think it is a dumb idea. Currency should be able to adapt to economic conditions. We have seen what happens if this adjustment cannot take place. This is exactly the problem in Greece.
It's still interesting news nonetheless, a country adopting another country's currency. Oh I forgot - if it doesn't affect or have anything to do with the US it's considered boring news.
Comments
http://www.npr.org/2011/10/04/140948138/how-the-financial-crisis-created-a-new-third-world
Ted
you beat me to it. I would have echoed your reply.