Listen to the new show on Bradford Community Broadcasting 106.6FM radio "Why don’t economists…” that was taken at the Manchester Post-Crash Economics Society conference, presented by Marie McCahery.
"No single measure is more likely to restore some sanity to finance than withdrawing from private banks their licence to print money", reads the excellent article by David Ransom in the New Internationalist magazine.
Greece must avoid replacing one myth with another - that returning to the drachma will be a panacea. If and when the drachma returns it will not be the notes and coins issued by the State free of debt which will be the problem, it will be the new drachma denominated debt issued by the privately controlled international banking system which will hobble Greece to its present masters, reads this BellaCaledonia article that is well worth reading.
What type of monetary framework should the Greeks adopt if they were to part ways with the Eurozone?
The "Grexit" might be just around the corner. Wall Street bets on 75% chance of Greek default. Greek prime minister escalated his defiance towards the country’s official creditors, with a pointed attack on the International Monetary Fund, saying the IMF bears “criminal responsibility”. Greeks are withdrawing cash from banks in fear of Grexit. And the Greece's central bank has warned for the first time that the country could be on a "painful course" towards default and exit from the eurozone.