Europe’s New Message: My Way or the Drachma Highway

Greece’s call for a referendum on the bail-out has been rescinded. The next tranche of funds for Greece from the IMF appears to be safe. According to his essay Europe’s New Message: My Way or the Drachma Highway, Dr. Jacob Funk Kirkegaard, Research Fellow at the Peterson Institute for International Economics and frequent AICGS contributor, argues this was the goal behind Greek Prime Minster George Papandreou’s call for a referendum. However, his potentially term ending move may have had another, more lasting effect: the threat of kicking member states out of the monetary union is now officially on the table.

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The views expressed are those of the author(s) alone. They do not necessarily reflect the views of the American Institute for Contemporary German Studies.
Jacob Kirkegaard

Jacob Kirkegaard

Peterson Institute for International Economics

Jacob Kirkegaard is a Senior Fellow at the Peterson Institute for International Economics.