You could create a new drachma and redenominate all debts in the currency.
Governments would surely have to freeze bank accounts and redenominate debt in a new currency.
Technically, nothing prevents a national legislature from passing a law requiring banks, firms, households and governments to redenominate their contracts.
Technically, nothing prevents a national legislature from passing a law requiring domestic banks, firms, households, and governments to redenominate their contracts in this manner.
redenomination of the outstanding debt in the euro unit
redenomination on the basis of the nearest rounded nominal amount in euros
What is certain, however, is that euro area exit would lead to redenomination of the national debt into new franc.
Unilaterally redenominating the public debt would technically be an act of default; hence leaving the euro area would not be a way of avoiding debt problems.
Unilaterally redenominating the public debt would technically be an act of default, and thus leaving the euro area would not be a way of avoiding debt default.
Requêtes fréquentes français :1-200, -1k, -2k, -3k, -4k, -5k, -7k, -10k, -20k, -40k, -100k, -200k, -500k, -1000k,
Requêtes fréquentes anglais :1-200, -1k, -2k, -3k, -4k, -5k, -7k, -10k, -20k, -40k, -100k, -200k, -500k, -1000k,
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