Leaving the euro: how would it work?

Would Ireland be better off if it left the euro and revived the Punt? Would the Greek economy recover more quickly with a new Drachma?

Much has been written about the theoretical attractions for financially troubled countries in exiting the euro-zone.

But the question of how a country would go about it is less well explored.

And the more closely you examine the question of 'how' - as opposed to 'why' - a country might leave the euro, the clearer it becomes that the practical difficulties are huge.

Voxeu: The euro: love it or leave it?, May 2010 http://www.voxeu.org/index.php?q=node/729

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