Steve Keen has proposed a solution to Ireland’s debt problems with a new currency IRP which be issued on a 1:1 basis with the euro. Over time for every euro spent will be taken out of the economy to pay off Ireland’s debts and change given in the new IRP. This would be done until eventually the debt is paid off, and then the IRP can be given up and traded back to euros afterwards. check out the full proposal below. Of course its radical ideas like this that can sort out this problem but will our banker owned politicians go for this. The answer lies in how well-informed our electorate are and how politically active they want to become. My opinion is “Normalcy Bias” will win the day as usual.
An excellent idea which could be used for other eurozone countries.
Source: A plan for economic recovery