Greece's Re Emergence From Its Economic Crisis

1151 words - 5 pages

It may seem like our country, Greece, is doomed for the worse and that there is no way to get out of the economic crisis our country is currently in. The truth however is that despite the extensive spending and numerous tax evasions, if our government and banks play an active role, we can! There are several ways in which we can turn around our country’s economy which include: introducing a parallel currency, raising taxes, cutting spending, and liquidating. At the same time, we need to·create opportunities in which highly profitable products are exported. By doing this, we will create jobs for the unemployed, create tax revenue and be able to provide social services to our citizens. This will in turn create individual taxes, reduce the cost of living, and restore what we once had. The key to this plausible solution is that we must work together in all areas and use government funds to support our ventures, especially those involving major exports such as horticulture, livestock, fish farming, and manufacturing. By making these changes, Greece’s economy will be effectively reformed for the better.
Part of the solution to our crisis is reintroducing the drachma to Greece. This type of currency would be used for paying utilities, salaries, public services and taxes in Greece alone. The drachmas would still be able to be converted to euros at a floating exchange rate. This will ensure that citizens use both the drachma and the euro, that way citizens and tourists are not forced to remain in Greece and the value of the drachma does not depreciate. The euro would still be used for export and import purposes, as well as international finances. The use of a parallel currency that is easily interconverted, has been used by countries like Yugoslavia in the past and has been proven to work. Once put into use, we shall see less inflation, have the ability to create welfare programs, and stimulate economic growth. By using the drachma for public services such as transportation, law enforcement and education, the new currency will become in demand and the transition will be smoother. The welfare programs will include payments mostly in drachmas, in order to contribute to more spending within the country while allowing citizens to continue the euro’s circulation through all of the Europe. The reintroduction of the drachma, will increase Greece’s ability to liquidate, in essence stimulating our economy. In order to prevent the depreciation of the drachma, export prices will be raised compared to the domestic cost in order to compete with other European countries. Furthermore, the government would invest drachmas in manufacturing companies and businesses involving livestock, fish, and horticulture to further enhance the economic environment.

Since Greece is currently a net importer of fruits and vegetables, horticulture should be a means of saving the country. By exporting fruits such as tomatoes, olives, and cucumbers, we will provide jobs requiring manual...

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