Important because this strategy is a ‘plan b” strategy, meaning it will work. Because it will work it can be used as an effective strategy to force the EU to finally start paying attention to unemployment and to adopt fiscal and monetary policies that don’t result in the massive unemployment and ridiculous austerity measures that currently exist throughout the EU.
Note that at 3:26, Mosler says “Lira debt” when he should have said “Euro debt.”
Source: How Could Euro Nations Start A New Currency? – YouTube