Arghyrou, Michael Georgiou; Tsoukalas, John D. - 2010
temporary split of the euro into two currencies, both run by the European Central Bank. The hard euro will be maintained by the … core-EMU members whereas periphery EMU countries will adopt for a suitable period of time the weak euro. All existing debts … will continue to be denominated in strong-euro terms. The plan involves a one-off devaluation of the weak euro versus the …