Back in June we reported that Reuters had put the Greek drachma on its exchange rates list for the first time since 2002, when Greece joined the European Union. A couple of weeks later, we posted that Reuters admitted that the listing was due to a programming error and the drachma was removed from the list.
Martin Hutchinson thinks Reuters should put the drachma back on the list. He explains, "The standard of living reached in Greece since it joined the European Union means austerity will be inadequate to rebalance the economy. Returning Greece’s currency to the drachma, on the other hand, would allow market forces to set the country’s wage levels, induce other indebted European Union members to reform without Continental prodding and thus solidify the euro."
Read the full article by Martin.
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