BBC: Five ways the eurozone could break up ($400,000 to the best plan for a eurozone break up)
Last edited Sun Jun 3, 2012, 09:11 PM - Edit history (1)
The Wolfson Prize offers £250,000 to the economist who comes up with the best plan to manage a potential break-up of the eurozone. The five ideas in the running are summarised here.
The conundrum posed is this: "If member states leave the Economic and Monetary Union, what is the best way for the economic process to be managed to provide the soundest foundation for the future growth and prosperity of the current membership?"
Lord Wolfson, whose family charity puts up the prize money, has said there is a serious need for a solution to any euro break-up. Here are the short-listed entries:
1. Greece - or another country - could go
2. Pain sharp but short-lived
3. All return to national currencies
4. How to redenominate currencies
5. Split the eurozone in two to stop currency flight
http://www.bbc.co.uk/news/magazine-18193962
Interesting to see the thought being put into how to unwind the eurozone if it comes to that. There is information on each scenario at the link.
The euro may muddle through the current crisis but, if it doesn't, there are some alternatives to consider for exactly how to deal with its disappearance.
