19 July 2018
Roy McPherson


Roy McPherson - Macroy Consulting

31Posts 113,133Views 38Comments

Greece - A slippery slope?

06 May 2010  |  4315 views  |  1

Never mind 'beware Greeks bearing gifts' how about 'beware Greece setting off a chain reaction'? It's been the unthinkable but in the great land of WhatIf, what if Greece set off a chain of events to be followed by Italy, Spain and Portugal (never mind the UK). What if the burden on the German tax payer became so great that they said, no more. What if France was next in line, and brought in austerity measures that prompted a national strike and national unrest. What if the Euro tumbles and some of the In countries try to pull out and go back to their legacy currencies?

Oh those were the days, "whats your price drachma/franc in small please?. The credit departments, cash management resources etc. will be stretched whilst us older heads will nod sagely and say 'been there, done that'.

Far fetched, possibly, plausible, definitely.



It just occured to me this would be a marvelous way of invigorating the financial markets and stimulating job creation. The problems of the PSD would disappear at a stroke and SEPA would become a pipe dream. 

TagsPaymentsRisk & regulation

Comments: (2)

Steve Scott
Steve Scott - Temenos - London 06 May, 2010, 11:09

Consider the possibility of the euro becoming a multi independent national currency? 

Banking, commercial and retail financial infrastructure entrenched to euro making transition back to the legacy national currency too risky and expensive to contemplate.  Alternative then to have National currency based in euro, just issue own notes and coins. Then will we have Greek euro, Spanish euro, French euro, German euro etc  all traded idependently, some in CLS and some out? Of course the Italian euro would be bound to have an exchange of at least 10,000 Italian euro = £1

The mind boggles!

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Roy McPherson
Roy McPherson - Macroy Consulting - Maldon 06 May, 2010, 11:13

en route to the first 1,000,000,000 euro/lire note.

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job title Consultant
location Maldon
member since 2008
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I have extensive knowledge of Treasury Products from trade through to settlement. My main areas of expertise are FX, MM, Cash & Liquidity.

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