Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
But it constitutes a savings for any who use the currency 'at maturity' to pay taxes. Probably the financial sector, if this comes to pass, will find a way to have some sort of convertible instrument/swap that earns interest as euros and then is convertible back to its digital form to pay taxes. If so the 'loanable funds' nuts will be ecstatic, and, given that the ECB is not really a central bank and the Euro is not really a sovereign currency, this might actually be true for this case. It might increase 'loanable funds' from Greek banks. The Greek central bank might treat it differently than the ECB with regard to regulations. Others could say better than I.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed Feb 25th, 2015 at 01:47:16 AM EST
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