GR businesses are in a very awkward state where all want to pay back arrears, while none wants to receive them (yet) due to haircut fears!
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@nickszabo4@dgwbirch@greekanalyst@chris_skinner Sure - the overall trap here is that all terms are defined and degenerated by the banks.
@iang_fc @dgwbirch @GreekAnalyst @Chris_Skinner There's also the sticky question of what is "owed" in an IOU
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@nickszabo4@dgwbirch@greekanalyst@chris_skinner Right. What's liquid? cf http://www.chyp.com/payments-without-banks/ … was bank cheques and pub pints for Irish. -
@iang_fc@dgwbirch@GreekAnalyst@Chris_Skinner + required faith that banks would eventually honor checks with non-depreciated currency.
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@iang_fc@dgwbirch@GreekAnalyst@Chris_Skinner Haircut deposits? Drachma (as new legal tender) at official exchange rates? -
@NickSzabo4@iang_fc@dgwbirch@GreekAnalyst@Chris_Skinner Greece could do drachma at euro par, accept drach. for tax payment at premium. -
@dgwbirch@itnom@nickszabo4@greekanalyst@chris_skinner Rhetorical q - would Kenya survive Greek shutdown better? Probably if mPesa safe. -
@iang_fc@dgwbirch@Itnom@NickSzabo4@GreekAnalyst@Chris_Skinner if mPesa safe then so are mpesa linked Bitcoin international transfers
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