Calamos Supports Greece

Drachma or Euro

One of the questions that is going through the minds of the citizens of Greece these days is, if Greece will return to the drachma currency or stay with the euro currency. The Japanese bank Nomura has calculated that when the collapse of the euro happens or the devaluation of the new drachma or however else the new national currency of Greece will be named, it will reach up to 57.6% opposite of the euro.
According to the Japanese bank, when the euro era ends the new drachma will be the currency that will devalue the euro. In Portugal it has been estimated that the euro will be devalued up to about 47.2%, in Spain up to about 35.5%, in Ireland up to about 28.6% and in Italy up to about 27.3%. Europeans as well as the Greek citizens should take to account the competitive deficiency of the incorrect rate as well as the inflationary shock that will result to after the euro collapses.
Nomura has also calculated that the new national currency of Greece should devalue the euro to of about 57.6% in order for it to configure to the rate of the dollar that should be about $0.57.


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