It will take Greece another 20 years from now to regain the employment lost by the imposed policy austerity.
The Left Platform of Syriza appears to be the only Greek political element that understands that an exit would:
- Restore “monetary sovereignty” and allows the financial system (banking etc) to be safeguarded.
- Provide the capacity to invest in Greek infrastructure and engender employment growth.
- Aid the development of productive enterprises.
- Bring “fiscal justice and redistribution of wealth and income”.
- Accelerate growth and reduce unemployment.
If people would only understand, a country’s SOVEREIGN MONEY is worth:
- All the people in the country willing to work
- And what they are able to create in goods and services.
This means that with the return to the Drachma, the Greek Government could:
- Take back control of the banks and capitalize them in Drachma, thus GUARANTEEING every Greek that has money in the bank that it will not be taken away.
- It could then guarantee every Greek a job if he or she wants it. (100% employment, countries have done it like Australia, for example.)
- There would be a temporary devaluation of the Drachma, but it would most likely start to recover within the first year and by the end of the first year you’d see it close to where it was issued.
There are so many benefits to returning to the Drachma, and the media hype that it would be a disaster is simply the media owned by groups that have an interest in your not understanding all this.
You can read more from Bill Mitchell below.
Source: A Greek exit could not be more costly than the current path | Bill Mitchell – billy blog
You can read about full employment here or watch a video below: