By Anastasios Retzios
I know that some of the subjects here are a bit too technical for some. However, they are the core of the current crisis in Greece.I promised answers to some specific issues that seem to pre-occupy some of the members. Here they are: (a) “Optimal common currency area”: There has been a lot of discussion on this rather very simple idea. The area that is “optimal” for the introduction of a common currency includes countries and economies that are expected to behave identically at financial challenges. To make this simple, an “optimal area for a common currency” is one in which the economy will show the same resilience (or weakness) upon a “down” business cycle or recession.
