Monthly Archives: February 2015

Can a Bitcoin-style virtual currency solve the Greek financial crisis?

Introducing a parallel currency would create money and delay Greece’s inevitable financial default. But the strategy will only work if investors believe the country won’t collapse

There’s almost no upside to a eurocrisis. You become part of a rolling maul of politicians, journalists and economists ripping and gouging at each other, both in private and on Twitter. The only advantage of being there is that it forces you to think laterally about money. Soon – if the Greek crisis is not resolved – one of the most audacious pieces of lateral thinking ever could get a try-out: a parallel digital currency, issued by the Greek government, modelled on Bitcoin, but with a crucial difference.

Related: The Guardian view on the Greek debt deal: victory or defeat? | Editorial

Continue reading…