[Toddsterpatriot]

Try between 70 and 90%,

Which number(s)?

They'd be competitive with a 50% devaluation, don't you think?

Imports would tank.

They'd be free of the mean troika.

Win-win.

[SAJ]

No, Toddy, I don't. The absolute minimum (phased) devaluation necessary to render a new drachma acceptable in world commerce -- based on REAL economic stats, not the kwap that the EMU is pushing, ok? -- is something like 73%, give or take.

Imports would indeed tank, and Greece's economy would be effectively back where it was in about 1906.

Oh, and keep in mind that Greek debt, which, on a proportional basis DWARFS the US debt (think about that for a minute...) would have to -- completely as part of the bargain to redrachmatise -- be forgiven or defaulted upon. Good luck to the Euroturds in solving THAT little problem.

Unemployment would de facto vanish: every able-bodied person would be growing food to stave off starvation until (sigh...) US food aid arrives.